Amer Sports (NYSE:AS) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen has downgraded Amer Sports from a "buy" rating to a "hold" rating, indicating a shift in sentiment towards the stock.
• The consensus rating on Amer Sports is currently a "Moderate Buy" with an average target price of $38.74, while analysts predict earnings per share of $0.46 for the current year.
• The company's stock performance shows a 1-year low of $11.03 and a high of $40.21, reflecting significant price fluctuations over the period.

Wall Street Zen downgraded shares of Amer Sports (NYSE:AS - Free Report) from a buy rating to a hold rating in a research note published on Saturday.

Other equities analysts have also issued reports about the company. KGI Securities set a $44.30 price target on Amer Sports and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Morgan Stanley lifted their price objective on Amer Sports from $28.00 to $33.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. Wells Fargo & Company set a $35.00 price objective on Amer Sports and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group lifted their price objective on Amer Sports from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, Piper Sandler started coverage on Amer Sports in a research note on Thursday, June 26th. They set an "overweight" rating and a $45.00 price objective for the company. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Amer Sports currently has an average rating of "Moderate Buy" and an average price target of $38.74.

Amer Sports Stock Performance

NYSE AS traded up $0.74 on Friday, hitting $38.20. 1,399,449 shares of the stock traded hands, compared to its average volume of 3,911,898. The business's fifty day moving average is $37.83 and its two-hundred day moving average is $31.84. Amer Sports has a 12 month low of $11.03 and a 12 month high of $40.21. The firm has a market capitalization of $21.16 billion, a price-to-earnings ratio of 103.38, a PEG ratio of 1.49 and a beta of 3.31. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.80 and a current ratio of 1.66.

Amer Sports (NYSE:AS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.12. Amer Sports had a return on equity of 7.21% and a net margin of 3.70%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the company earned $0.08 earnings per share. Amer Sports's revenue was up 24.5% compared to the same quarter last year. As a group, equities analysts anticipate that Amer Sports will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AS. JPMorgan Chase & Co. increased its holdings in shares of Amer Sports by 33,494.4% in the fourth quarter. JPMorgan Chase & Co. now owns 524,072 shares of the company's stock worth $14,653,000 after buying an additional 522,512 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Amer Sports by 16.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 36,018 shares of the company's stock worth $1,007,000 after buying an additional 5,157 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Amer Sports by 341.3% in the fourth quarter. Russell Investments Group Ltd. now owns 246,901 shares of the company's stock worth $6,903,000 after buying an additional 190,951 shares during the period. Sterling Capital Management LLC increased its holdings in shares of Amer Sports by 55.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock worth $97,000 after buying an additional 1,250 shares during the period. Finally, Barclays PLC increased its holdings in shares of Amer Sports by 2,954.6% in the fourth quarter. Barclays PLC now owns 96,649 shares of the company's stock worth $2,702,000 after buying an additional 93,485 shares during the period. Hedge funds and other institutional investors own 40.25% of the company's stock.

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.