Amer Sports (NYSE:AS) Reaches New 1-Year High - Here's What Happened

Amer Sports, Inc. (NYSE:AS - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $39.17 and last traded at $38.35, with a volume of 1622069 shares trading hands. The stock had previously closed at $37.84.

Analyst Upgrades and Downgrades

AS has been the topic of several recent analyst reports. Wells Fargo & Company set a $35.00 price target on Amer Sports and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. UBS Group reaffirmed a "buy" rating and issued a $50.00 price target (up previously from $37.00) on shares of Amer Sports in a research note on Wednesday, May 21st. Citigroup reiterated a "buy" rating and issued a $42.00 price objective (up previously from $30.00) on shares of Amer Sports in a report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price objective on Amer Sports from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Finally, Wall Street Zen upgraded Amer Sports from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Four 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, Amer Sports currently has an average rating of "Moderate Buy" and a consensus target price of $36.67.

Amer Sports Trading Down 3.3%

The company has a 50-day moving average price of $29.79 and a 200-day moving average price of $29.03. The firm has a market capitalization of $20.04 billion, a price-to-earnings ratio of -258.49, a PEG ratio of 0.72 and a beta of 3.64. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62.

Amer Sports (NYSE:AS - Get Free Report) last announced its earnings results on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.12. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.38 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The business's revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. As a group, research analysts forecast that Amer Sports, Inc. will post 0.46 EPS for the current fiscal year.

Institutional Trading of Amer Sports

A number of large investors have recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of Amer Sports in the 1st quarter valued at approximately $981,000. Goldman Sachs Group Inc. increased its stake in Amer Sports by 44.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,173,674 shares of the company's stock valued at $31,372,000 after buying an additional 358,536 shares during the period. Temasek Holdings Private Ltd acquired a new position in Amer Sports in the 1st quarter valued at $10,081,000. Tiger Pacific Capital LP acquired a new position in Amer Sports in the 1st quarter valued at $8,316,000. Finally, Samlyn Capital LLC increased its stake in Amer Sports by 10.8% in the 1st quarter. Samlyn Capital LLC now owns 1,634,448 shares of the company's stock valued at $43,689,000 after buying an additional 159,848 shares during the period. 40.25% of the stock is owned by institutional investors and hedge funds.

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.