Amer Sports (NYSE:AS) Reaches New 1-Year High – Here’s Why

Amer Sports, Inc. (NYSE:AS) shares hit a new 52-week high during trading on Friday . The stock traded as high as $29.60 and last traded at $29.43, with a volume of 1247170 shares changing hands. The stock had previously closed at $28.85.

Analyst Upgrades and Downgrades

AS has been the topic of a number of research analyst reports. Hsbc Global Res cut shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Citigroup boosted their price objective on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Wells Fargo & Company lifted their price target on Amer Sports from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. UBS Group raised their price objective on Amer Sports from $27.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Finally, Robert W. Baird raised their price target on shares of Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.14.

Amer Sports Price Performance

The stock has a 50-day simple moving average of $24.13 and a 200 day simple moving average of $17.51. The company has a market cap of $16.11 billion and a PE ratio of -210.63. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

Institutional Investors Weigh In On Amer Sports

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its stake in Amer Sports by 71.2% during the third quarter. FMR LLC now owns 7,533,007 shares of the company’s stock worth $120,151,000 after purchasing an additional 3,133,312 shares during the period. Hood River Capital Management LLC increased its stake in Amer Sports by 32.9% during the 2nd quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company’s stock worth $48,983,000 after buying an additional 965,625 shares during the period. Point72 Hong Kong Ltd lifted its holdings in Amer Sports by 557.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock worth $41,161,000 after buying an additional 2,776,619 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Amer Sports by 308.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock valued at $39,045,000 after buying an additional 2,345,420 shares during the period. Finally, WCM Investment Management LLC grew its stake in shares of Amer Sports by 29.9% in the third quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company’s stock worth $21,787,000 after acquiring an additional 306,001 shares in the last quarter. 40.25% of the stock is owned by hedge funds and other institutional investors.

Amer Sports Company Profile

Amer Sports, Inc designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, China, and the Asia Pacific. It operates through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports.