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

Amer Sports, Inc. (NYSE:AS - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 2,765,307 shares changed 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.

Analyst Ratings Changes

A number of research analysts have issued reports on AS shares. Morgan Stanley raised their price target on shares of Amer Sports from $28.00 to $33.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 21st. UBS Group reissued a "buy" rating and set a $50.00 price objective (up from $37.00) on shares of Amer Sports in a report on Wednesday, May 21st. Wall Street Zen upgraded Amer Sports from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. The Goldman Sachs Group boosted their price target on Amer Sports from $28.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, TD Securities increased their price objective on Amer Sports from $30.00 to $41.00 and gave the company a "buy" rating in a 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.67.

Amer Sports Price Performance

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 fifty day simple moving average of $27.44 and a 200-day simple moving average of $28.06. The company has a market capitalization of $20.38 billion, a price-to-earnings ratio of -262.80, a P/E/G ratio of 0.72 and a beta of 2.76.

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, beating the consensus estimate of $0.15 by $0.12. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the business posted $0.08 EPS. The business's revenue was up 24.5% compared to the same quarter last year. On average, equities research analysts anticipate that Amer Sports, Inc. will post 0.46 EPS for the current year.

Institutional Investors Weigh In On Amer Sports

Institutional investors have recently modified their holdings of the business. Strs Ohio acquired a new position in shares of Amer Sports during the 1st quarter worth approximately $981,000. Goldman Sachs Group Inc. grew its position 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 acquiring an additional 358,536 shares in the last quarter. Temasek Holdings Private Ltd purchased a new stake in Amer Sports during the first quarter worth about $10,081,000. Tiger Pacific Capital LP purchased a new position in shares of Amer Sports in the first quarter valued at approximately $8,316,000. Finally, Samlyn Capital LLC grew its holdings in shares of Amer Sports by 10.8% in the first quarter. Samlyn Capital LLC now owns 1,634,448 shares of the company's stock valued at $43,689,000 after purchasing an additional 159,848 shares in the last quarter. 40.25% of the stock is currently 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.