Amer Sports (NYSE:AS) Shares Down 5.2%

Shares of Amer Sports, Inc. (NYSE:AS) dropped 5.2% during trading on Tuesday . The company traded as low as $13.63 and last traded at $13.65. Approximately 354,018 shares were traded during trading, a decline of 77% from the average daily volume of 1,555,661 shares. The stock had previously closed at $14.40.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AS shares. Evercore ISI reissued an “outperform” rating and set a $21.00 target price on shares of Amer Sports in a report on Wednesday, August 21st. UBS Group raised their price target on shares of Amer Sports from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Morgan Stanley dropped their price target on shares of Amer Sports from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Amer Sports Stock Performance

The company’s 50 day moving average is $12.17 and its 200-day moving average is $14.02. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87.

Amer Sports (NYSE:AS) last released its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. The firm had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. Amer Sports’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities research analysts predict that Amer Sports, Inc. will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amer Sports

Several large investors have recently bought and sold shares of the stock. Hood River Capital Management LLC purchased a new stake in shares of Amer Sports during the 1st quarter valued at $47,778,000. Point72 Hong Kong Ltd raised its holdings in shares of Amer Sports by 557.7% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock worth $41,161,000 after purchasing an additional 2,776,619 shares during the period. Point72 Asset Management L.P. lifted its stake in Amer Sports by 308.3% in the second quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock valued at $39,045,000 after purchasing an additional 2,345,420 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Amer Sports during the first quarter valued at $7,301,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Amer Sports in the first quarter worth $5,705,000. 40.25% of the stock is currently owned by institutional investors.

About Amer Sports

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.