Amer Sports (NYSE:AS) Shares Gap Up - Still a Buy?

Key Points

• A gap up occurred for Amer Sports shares, opening at $39.09 after a prior close of $37.09, with a recent trading price of $38.57.
• Multiple brokerages have raised their price targets for Amer Sports, with a consensus average price target of $41.62 and most analysts rating the stock as a "Buy."
• Amer Sports reported a 23.4% year-over-year revenue growth in its latest quarterly earnings, with earnings per share of $0.06, exceeding analysts' expectations.

Amer Sports, Inc. (NYSE:AS - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $37.09, but opened at $39.09. Amer Sports shares last traded at $38.57, with a volume of 1,318,475 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AS. Citigroup raised their price objective on Amer Sports from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday. Hsbc Global Res raised shares of Amer Sports from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 27th. Wall Street Zen upgraded shares of Amer Sports from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Morgan Stanley set a $41.00 price objective on shares of Amer Sports and gave the stock a "positive" rating in a research note on Monday. Finally, Zacks Research downgraded shares of Amer Sports from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $43.49.

Amer Sports Stock Performance

The company has a market capitalization of $19.58 billion, a P/E ratio of 86.24, a price-to-earnings-growth ratio of 1.23 and a beta of 3.30. The business has a 50 day moving average of $38.11 and a 200 day moving average of $33.34. The company has a quick ratio of 0.61, a current ratio of 1.60 and a debt-to-equity ratio of 0.24.

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, beating analysts' consensus estimates of $0.02 by $0.04. Amer Sports had a net margin of 3.93% and a return on equity of 6.87%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm earned $0.05 EPS. The firm's revenue for the quarter was up 23.4% compared to the same quarter last year. Amer Sports has set its FY 2025 guidance at 0.770-0.820 EPS. Q3 2025 guidance at 0.200-0.220 EPS. On average, sell-side analysts predict that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

Institutional Trading of Amer Sports

Hedge funds and other institutional investors have recently bought and sold shares of the business. Scopus Asset Management L.P. bought a new stake in shares of Amer Sports in the 2nd quarter valued at about $108,562,000. Qube Research & Technologies Ltd boosted its stake in Amer Sports by 139.9% in the second quarter. Qube Research & Technologies Ltd now owns 3,887,480 shares of the company's stock valued at $150,679,000 after acquiring an additional 2,267,066 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Amer Sports in the second quarter worth $87,287,000. BNP Paribas Financial Markets increased its position in shares of Amer Sports by 244.5% during the second quarter. BNP Paribas Financial Markets now owns 2,533,612 shares of the company's stock worth $98,203,000 after purchasing an additional 1,798,170 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Amer Sports during the 2nd quarter valued at $60,855,000. 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.