Amer Sports, Inc. (NYSE:AS) Stock Has Consensus Price Target of $44.77

Key Points

• Amer Sports has a “Moderate Buy” consensus rating from 15 analysts, with 11 buys, three holds and one strong buy. The average 12-month price target is $44.77, well above the reported $27.18 share price.
• The company exceeded quarterly expectations, reporting $0.22 in EPS versus the $0.11 consensus and $1.63 billion in revenue versus $1.54 billion expected. Revenue rose 32.1% year over year.
• Insiders recently sold shares, including CFO Andrew Page and insider Wen-Chang Chen, while institutional investors own 40.25% of the company.

Shares of Amer Sports, Inc. (NYSE:AS - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $44.77.

Several research analysts have recently commented on the company. Truist Financial decreased their price objective on Amer Sports from $50.00 to $42.00 and set a "buy" rating on the stock in a report on Wednesday, August 19th. Wells Fargo & Company dropped their target price on Amer Sports from $45.00 to $40.00 and set an "overweight" rating for the company in a report on Friday, September 18th. The Goldman Sachs Group set a $43.00 price target on Amer Sports in a research report on Friday, September 18th. JPMorgan Chase & Co. lifted their price target on Amer Sports from $59.00 to $64.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Finally, Morgan Stanley initiated coverage on Amer Sports in a research report on Thursday, September 10th. They issued an "equal weight" rating and a $31.00 price objective for the company.

Amer Sports Price Performance

Shares of Amer Sports stock opened at $27.18 on Friday. Amer Sports has a 52-week low of $26.10 and a 52-week high of $42.76. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 0.86 and a beta of 2.04. The company has a fifty day moving average of $30.93 and a 200-day moving average of $33.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.80 and a current ratio of 1.76.

Amer Sports (NYSE:AS - Get Free Report) last issued its earnings results on Monday, August 17th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.11. The company had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.54 billion. Amer Sports had a net margin of 7.35% and a return on equity of 11.18%. The firm's revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 EPS. Equities research analysts expect that Amer Sports will post 1.3 EPS for the current year.

Insider Activity at Amer Sports

In related news, CFO Andrew Page sold 2,022 shares of Amer Sports stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $28.63, for a total value of $57,889.86. Following the transaction, the chief financial officer directly owned 6,575 shares of the company's stock, valued at $188,242.25. The trade was a 23.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 Amer Sports stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $26.60, for a total transaction of $3,124,462.60. Following the completion of 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

A number of large investors have recently added to or reduced their stakes in AS. EverSource Wealth Advisors LLC lifted its stake in Amer Sports by 84.3% in the first quarter. EverSource Wealth Advisors LLC now owns 761 shares of the company's stock worth $25,000 after acquiring an additional 348 shares during the period. Rockefeller Capital Management L.P. increased its position in Amer Sports by 1,030.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 814 shares of the company's stock valued at $30,000 after purchasing an additional 742 shares during the period. Global Retirement Partners LLC increased its position in Amer Sports by 5,600.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,824 shares of the company's stock valued at $68,000 after purchasing an additional 1,792 shares during the period. Integrated Wealth Concepts LLC bought a new position in Amer Sports in the 2nd quarter worth $99,000. Finally, PNC Financial Services Group Inc. raised its holdings in Amer Sports by 135.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,090 shares of the company's stock worth $102,000 after purchasing an additional 1,777 shares in the last quarter. Institutional investors own 40.25% of the company's stock.

About Amer Sports

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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