Amer Sports (NYSE:AS) Reaches New 12-Month High – Should You Buy?

Amer Sports, Inc. (NYSE:AS)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $20.79 and last traded at $20.01, with a volume of 692086 shares trading hands. The stock had previously closed at $19.54.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AS. Evercore ISI reiterated an “outperform” rating and issued a $26.00 price target (up from $25.00) on shares of Amer Sports in a report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, October 21st. TD Cowen increased their price objective on shares of Amer Sports from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup lifted their target price on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company increased their price target on Amer Sports from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amer Sports currently has an average rating of “Moderate Buy” and a consensus price target of $21.43.

Amer Sports Trading Up 1.3 %

The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $17.57 and a 200-day moving average price of $14.81.

Amer Sports (NYSE:AS) last released its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. The company had revenue of $993.80 million during the quarter, compared to analyst estimates of $947.59 million. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The company’s revenue was up 16.0% compared to the same quarter last year. Equities research analysts predict that Amer Sports, Inc. will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Amer Sports

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC acquired a new stake in Amer Sports in the third quarter valued at approximately $49,000. Quarry LP acquired a new stake in shares of Amer Sports in the 3rd quarter valued at $61,000. CWM LLC bought a new stake in Amer Sports in the third quarter worth $73,000. Dnca Finance acquired a new position in Amer Sports during the second quarter worth $81,000. Finally, Amalgamated Bank bought a new position in Amer Sports during the second quarter valued at about $83,000. 40.25% of the stock is owned by institutional investors and hedge funds.

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.