Amer Sports (NYSE:AS) Hits New 12-Month High - Here's Why

Amer Sports, Inc. (NYSE:AS - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The company traded as high as $39.66 and last traded at $39.51, with a volume of 3636578 shares. The stock had previously closed at $37.85.

Analysts Set New Price Targets

AS has been the subject of several recent analyst reports. Wall Street Zen upgraded Amer Sports from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Wells Fargo & Company set a $35.00 target price on Amer Sports and gave the stock an "equal weight" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group raised their price target on shares of Amer Sports from $28.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Citigroup reiterated a "buy" rating and issued a $42.00 price target (up from $30.00) on shares of Amer Sports in a research note on Wednesday, May 21st. Finally, TD Securities increased their price objective 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. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.81.

Amer Sports Trading Up 4.1%

The company has a market capitalization of $21.81 billion, a P/E ratio of 106.45, a PEG ratio of 1.41 and a beta of 3.64. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.80 and a current ratio of 1.66. The stock has a fifty day moving average of $32.72 and a 200 day moving average of $29.80.

Amer Sports (NYSE:AS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.12. Amer Sports had a return on equity of 7.21% and a net margin of 3.70%. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the business posted $0.08 earnings per share. The business's quarterly revenue was up 24.5% on a year-over-year basis. As a group, equities research analysts anticipate that Amer Sports, Inc. will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AS. FMR LLC increased its stake in shares of Amer Sports by 250.7% in the fourth quarter. FMR LLC now owns 26,414,511 shares of the company's stock worth $738,550,000 after purchasing an additional 18,881,504 shares in the last quarter. Brilliance Asset Management Ltd. boosted its holdings in Amer Sports by 5.1% in the 4th quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company's stock worth $113,883,000 after buying an additional 196,380 shares during the period. Candlestick Capital Management LP boosted its holdings in Amer Sports by 1.7% in the 4th quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company's stock worth $108,052,000 after buying an additional 63,078 shares during the period. Marshall Wace LLP increased its stake in Amer Sports by 262.5% in the 4th quarter. Marshall Wace LLP now owns 3,316,167 shares of the company's stock worth $92,720,000 after buying an additional 2,401,302 shares in the last quarter. Finally, Junto Capital Management LP bought a new stake in Amer Sports during the fourth quarter valued at about $66,793,000. Institutional investors own 40.25% of the company's stock.

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.