Amer Sports (NYSE:AS) Stock Rating Upgraded by Jefferies Financial Group

Key Points

• Jefferies upgraded Amer Sports to “strong buy,” joining a broader analyst consensus of “Moderate Buy” with an average price target of $44.59.
• Amer Sports shares rose 3.0% to open at $29.22, while the company’s latest quarter exceeded expectations with adjusted EPS of $0.22 versus $0.11 expected and revenue of $1.63 billion, up 32.1% year over year.
• Insiders sold shares, including a 117,461-share sale by Wen-Chang Chen, while institutional investors own approximately 40.25% of the company.

Amer Sports (NYSE:AS - Get Free Report) was upgraded by analysts at Jefferies Financial Group to a "strong-buy" rating in a report released on Tuesday, Zacks reports.

A number of other equities analysts also recently issued reports on the company. Truist Financial reduced their price target on Amer Sports from $50.00 to $42.00 and set a "buy" rating on the stock in a research report on Wednesday, August 19th. The Goldman Sachs Group set a $43.00 price objective on Amer Sports in a report on Friday, September 18th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Amer Sports in a research report on Wednesday, August 19th. Barclays upped their target price on Amer Sports from $49.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. Finally, Wells Fargo & Company decreased their price target on Amer Sports from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Friday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.59.

Amer Sports Stock Up 3.0%

Shares of Amer Sports stock opened at $29.22 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.76 and a debt-to-equity ratio of 0.11. The company has a market cap of $16.18 billion, a P/E ratio of 22.88, a PEG ratio of 0.90 and a beta of 2.04. The firm's 50 day moving average price is $29.81 and its 200-day moving average price is $33.11. Amer Sports has a 52-week low of $26.10 and a 52-week high of $42.76.

Amer Sports (NYSE:AS - Get Free Report) last posted its quarterly earnings data on Monday, August 17th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.11 by $0.11. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. Amer Sports had a net margin of 7.35% and a return on equity of 11.18%. Amer Sports's revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 EPS. On average, sell-side analysts predict that Amer Sports will post 1.30 EPS for the current fiscal year.

Insider Buying and Selling

In other Amer Sports news, CFO Andrew E. Page sold 2,022 shares of the company's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $28.63, for a total transaction of $57,889.86. Following the completion of the transaction, the chief financial officer directly owned 6,575 shares in the company, valued at approximately $188,242.25. This represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Wen-Chang Chen sold 117,461 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $26.60, for a total transaction of $3,124,462.60. Following the transaction, the insider directly owned 434,855 shares in the company, valued at approximately $11,567,143. The trade was a 21.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On Amer Sports

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its holdings in Amer Sports by 84.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 761 shares of the company's stock valued at $25,000 after buying an additional 348 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Amer Sports by 1,030.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 814 shares of the company's stock worth $30,000 after acquiring an additional 742 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Amer Sports by 45.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,718 shares of the company's stock worth $47,000 after acquiring an additional 534 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Amer Sports during the 2nd quarter worth $99,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Amer Sports by 135.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,090 shares of the company's stock valued at $102,000 after acquiring an additional 1,777 shares during the last quarter. Institutional investors and hedge funds own 40.25% of the company's stock.

Amer Sports Company Profile

Amer Sports, Inc NYSE: AS is a global sporting and outdoor goods company that develops, manufactures and markets equipment, apparel, footwear and accessories for consumers and athletes. Its portfolio spans outdoor, winter sports, racquet sports and fitness categories, with products sold through wholesale partners, company-operated stores and digital channels.

The company's brand portfolio includes Arc'teryx, known for technical outdoor apparel and equipment; Salomon, which offers trail-running, hiking and winter-sports products; Wilson, a manufacturer of tennis, padel, baseball, basketball and other sporting equipment; Atomic and Armada, which focus on snow sports; and Peak Performance, an outdoor and ski apparel brand.

Amer Sports serves customers internationally across North America, Europe, Asia and other global markets.

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