Amer Sports (NYSE:AS) Shares Cross Above 50 Day Moving Average - Time to Sell?

Key Points

• Amer Sports shares rose above their 50-day moving average, trading as high as $29.48 and last changing hands at $29.28, though the stock remained below its 200-day average of $33.77.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $44.59; targets range from $42 to $64.
• The company exceeded quarterly expectations, reporting $0.22 in adjusted earnings per share versus a $0.11 estimate and $1.63 billion in revenue, up 32.1% year over year. Institutional ownership also increased, with hedge funds and other institutions holding 40.25% of shares.

Amer Sports, Inc. (NYSE:AS - Get Free Report) shares crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $28.63 and traded as high as $29.48. Amer Sports shares last traded at $29.28, with a volume of 4,508,111 shares changing hands.

Analyst Ratings Changes

Several analysts have commented on the stock. Truist Financial lowered their price objective on shares of Amer Sports from $50.00 to $42.00 and set a "buy" rating on the stock in a research report on Wednesday, August 19th. Citigroup reiterated a "buy" rating on shares of Amer Sports in a research note on Monday, September 21st. Piper Sandler reissued an "overweight" rating on shares of Amer Sports in a research report on Wednesday, August 19th. JPMorgan Chase & Co. raised their price target on shares of Amer Sports from $59.00 to $64.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Finally, Jefferies Financial Group began coverage on shares of Amer Sports in a report on Tuesday, October 13th. They issued a "buy" rating and a $42.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.59.

Amer Sports Price Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.80 and a current ratio of 1.76. The company has a market cap of $16.22 billion, a P/E ratio of 30.82, a P/E/G ratio of 0.90 and a beta of 2.04. The firm has a 50 day moving average price of $28.63 and a two-hundred day moving average price of $33.77.

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

Insider Transactions at Amer Sports

In other news, insider Wen-Chang Chen sold 117,461 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $26.60, for a total value of $3,124,462.60. Following the sale, the insider owned 434,855 shares of the company's stock, valued at $11,567,143. The trade was a 21.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew E. Page sold 2,022 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer owned 6,575 shares in the company, valued at $188,242.25. The trade was a 23.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AS. C WorldWide Group Holding A S lifted its holdings in Amer Sports by 41.0% during the 2nd quarter. C WorldWide Group Holding A S now owns 296,653 shares of the company's stock worth $10,039,000 after purchasing an additional 86,327 shares in the last quarter. Principal Financial Group Inc. bought a new position in Amer Sports in the 1st quarter worth about $4,305,000. Squarepoint Ops LLC boosted its stake in Amer Sports by 89.0% in the 2nd quarter. Squarepoint Ops LLC now owns 1,106,439 shares of the company's stock worth $37,442,000 after purchasing an additional 520,888 shares during the period. Siren L.L.C. purchased a new position in Amer Sports during the 1st quarter valued at about $1,646,000. Finally, Junto Capital Management LP grew its holdings in Amer Sports by 583.8% during the 2nd quarter. Junto Capital Management LP now owns 3,099,673 shares of the company's stock valued at $104,893,000 after buying an additional 2,646,364 shares in the last quarter. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

About Amer Sports

Amer Sports, Inc is a global sporting and outdoor equipment company that develops, manufactures and markets apparel, footwear, equipment and accessories. Its portfolio includes internationally recognized brands such as Arc'teryx, Salomon, Wilson, Peak Performance, Atomic and ENVE.

The company organizes its business around outdoor and performance sports, including mountain sports, winter sports, trail running, hiking and other outdoor activities, as well as ball and racquet sports. Its products range from technical apparel and footwear to skis, snowboarding equipment, bicycles, tennis and padel racquets, team-sport equipment and related accessories.

Amer Sports traces its origins to Finland, where it was established in 1950, and serves consumers through wholesale and direct-to-consumer channels across North America, Europe, Asia and other international markets.

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