Amer Sports (NYSE:AS) Sets New 1-Year High - Should You Buy?

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Amer Sports from $28.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. TD Securities increased their target price on shares of Amer Sports from $30.00 to $41.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Citigroup reaffirmed a "buy" rating and issued a $42.00 price target (up previously from $30.00) on shares of Amer Sports in a report on Wednesday, May 21st. Wall Street Zen raised Amer Sports from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, Wells Fargo & Company set a $35.00 target price on Amer Sports and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $36.67.

Amer Sports Stock Performance

The business's fifty day moving average price is $29.79 and its 200-day moving average price is $29.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The stock has a market capitalization of $20.04 billion, a PE ratio of -258.49, a P/E/G ratio of 0.72 and a beta of 3.64.

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

Hedge Funds Weigh In On Amer Sports

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AS. Quarry LP bought a new stake in shares of Amer Sports during the 1st quarter valued at about $34,000. Colonial Trust Advisors bought a new stake in Amer Sports during the first quarter valued at approximately $93,000. Sterling Capital Management LLC grew its stake in Amer Sports by 55.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock worth $97,000 after buying an additional 1,250 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Amer Sports by 35.0% in the 4th quarter. Signaturefd LLC now owns 4,136 shares of the company's stock worth $116,000 after buying an additional 1,073 shares during the last quarter. Finally, Mainstream Capital Management LLC bought a new position in shares of Amer Sports in the 4th quarter worth $190,000. 40.25% of the stock is currently 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.