Amer Sports (NYSE:AS) Shares Gap Up After Strong Earnings

Shares of Amer Sports, Inc. (NYSE:AS - Get Free Report) gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $37.37, but opened at $38.39. Amer Sports shares last traded at $38.09, with a volume of 742,157 shares trading hands.

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 quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AS shares. UBS Group upped their target price on shares of Amer Sports from $37.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on shares of Amer Sports from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Wells Fargo & Company increased their price objective on Amer Sports from $24.00 to $25.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Morgan Stanley increased their price target on Amer Sports from $19.00 to $27.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. Finally, Citigroup decreased their price target on Amer Sports from $36.00 to $30.00 and set a "buy" rating for the company in a report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.33.

Institutional Investors Weigh In On Amer Sports

A number of institutional investors have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Amer Sports by 250.7% in the 4th quarter. FMR LLC now owns 26,414,511 shares of the company's stock valued at $738,550,000 after acquiring an additional 18,881,504 shares during the last quarter. Brilliance Asset Management Ltd. increased its holdings in shares of Amer Sports by 5.1% in the 4th quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company's stock valued at $113,883,000 after acquiring an additional 196,380 shares during the last quarter. Candlestick Capital Management LP increased its holdings in shares of Amer Sports by 1.7% in the 4th quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company's stock valued at $108,052,000 after acquiring an additional 63,078 shares during the last quarter. WT Asset Management Ltd increased its holdings in shares of Amer Sports by 188.2% in the 4th quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company's stock valued at $100,834,000 after acquiring an additional 2,355,182 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Amer Sports by 262.5% in the 4th quarter. Marshall Wace LLP now owns 3,316,167 shares of the company's stock valued at $92,720,000 after acquiring an additional 2,401,302 shares during the last quarter. 40.25% of the stock is currently owned by institutional investors.

Amer Sports Stock Up 1.9%

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. The firm has a market capitalization of $21.08 billion, a P/E ratio of -270.11, a P/E/G ratio of 0.72 and a beta of 2.76. The stock has a fifty day moving average price of $26.08 and a two-hundred day moving average price of $27.01.

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.

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