Amer Sports (NYSE:AS) Shares Gap Down - What's Next?

Key Points

• Amer Sports shares gapped down from a previous close of $37.45 to $35.35 before trading at $35.71, with a volume of nearly 5.8 million shares.
• Investment analysts have a predominantly positive outlook on Amer Sports, with multiple firms raising their price targets; Goldman Sachs and UBS Group set targets of $45.00 and $52.00 respectively, while the consensus price target stands at $43.49.
• The company's quarterly earnings surpassed expectations, reporting $0.06 earnings per share on revenues of $1.24 billion, marking a 23.4% year-over-year increase.

Shares of Amer Sports, Inc. (NYSE:AS - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $37.45, but opened at $35.35. Amer Sports shares last traded at $35.71, with a volume of 5,791,792 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on AS. Morgan Stanley set a $41.00 price objective on shares of Amer Sports and gave the stock a "positive" rating in a research report on Monday. KGI Securities set a $44.30 price target on shares of Amer Sports and gave the company an "outperform" rating in a research report on Wednesday, June 25th. JPMorgan Chase & Co. increased their price target on shares of Amer Sports from $46.00 to $53.00 and gave the company an "overweight" rating in a research report on Friday. Hsbc Global Res upgraded shares of Amer Sports from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 27th. Finally, HSBC set a $50.00 price target on shares of Amer Sports and gave the company a "buy" rating in a research report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $43.49.

Amer Sports Price Performance

The business has a 50 day moving average of $38.03 and a 200 day moving average of $33.40. The company has a market cap of $19.45 billion, a PE ratio of 85.71, a price-to-earnings-growth ratio of 1.23 and a beta of 3.30. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.60 and a quick ratio of 0.61.

Amer Sports (NYSE:AS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.04. Amer Sports had a return on equity of 6.87% and a net margin of 3.93%.The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the firm posted $0.05 earnings per share. The firm's revenue was up 23.4% on a year-over-year basis. Amer Sports has set its FY 2025 guidance at 0.770-0.820 EPS. Q3 2025 guidance at 0.200-0.220 EPS. As a group, research analysts predict that Amer Sports, Inc. will post 0.46 EPS for the current year.

Hedge Funds Weigh In On Amer Sports

Several institutional investors and hedge funds have recently added to or reduced their stakes in AS. Quarry LP purchased a new position in Amer Sports during the first quarter valued at $34,000. SBI Securities Co. Ltd. lifted its position in Amer Sports by 146.4% during the second quarter. SBI Securities Co. Ltd. now owns 897 shares of the company's stock valued at $35,000 after buying an additional 533 shares during the period. Smartleaf Asset Management LLC lifted its position in Amer Sports by 174.3% during the second quarter. Smartleaf Asset Management LLC now owns 1,591 shares of the company's stock valued at $63,000 after buying an additional 1,011 shares during the period. Colonial Trust Advisors purchased a new position in Amer Sports during the first quarter valued at $93,000. Finally, GAMMA Investing LLC lifted its position in Amer Sports by 17.4% during the second quarter. GAMMA Investing LLC now owns 2,614 shares of the company's stock valued at $101,000 after buying an additional 387 shares during the period. Hedge funds and other institutional investors own 40.25% of the company's stock.

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.