Amer Sports (NYSE:AS) Sees Strong Trading Volume - Should You Buy?

Shares of Amer Sports, Inc. (NYSE:AS - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 2,765,307 shares traded hands during mid-day trading, a decline of 1% from the previous session's volume of 2,804,714 shares.The stock last traded at $37.07 and had previously closed at $37.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AS shares. Citigroup restated a "buy" rating and set a $42.00 price target (up from $30.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Sanford C. Bernstein started coverage on Amer Sports in a report on Thursday, February 13th. They issued an "outperform" rating and a $38.00 price objective for the company. Morgan Stanley raised their target price on shares of Amer Sports from $28.00 to $33.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. TD Securities raised their price objective on shares of Amer Sports from $30.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, The Goldman Sachs Group lifted 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. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amer Sports presently has an average rating of "Moderate Buy" and an average target price of $36.67.

Amer Sports Stock Down 1.3%

The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $27.44 and a 200-day moving average price of $27.95. The stock has a market capitalization of $20.14 billion, a P/E ratio of -259.70, a PEG ratio of 0.72 and a beta of 2.76.

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

Institutional Investors Weigh In On Amer Sports

Several institutional investors have recently modified their holdings of AS. Scotia Capital Inc. increased its stake in shares of Amer Sports by 1.0% during the first quarter. Scotia Capital Inc. now owns 50,841 shares of the company's stock worth $1,359,000 after acquiring an additional 488 shares during the period. Signaturefd LLC lifted its holdings in shares of Amer Sports by 19.1% in the first quarter. Signaturefd LLC now owns 4,925 shares of the company's stock valued at $132,000 after purchasing an additional 789 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Amer Sports by 55.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock valued at $97,000 after purchasing an additional 1,250 shares in the last quarter. Quarry LP purchased a new position in shares of Amer Sports during the first quarter valued at approximately $34,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Amer Sports during the third quarter valued at approximately $25,000. 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.