Amer Sports (NYSE:AS) Upgraded to “Strong-Buy” at Jefferies Financial Group

Amer Sports (NYSE:AS) was upgraded by investment analysts at Jefferies Financial Group to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.

Several other brokerages have also commented on AS. The Goldman Sachs Group set a $43.00 price target on Amer Sports in a research note on Friday, September 18th. BTIG Research reissued a “buy” rating and set a $42.00 price objective on shares of Amer Sports in a research report on Friday, September 18th. BMO Capital Markets restated an “outperform” rating on shares of Amer Sports in a report on Monday, September 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Amer Sports in a report on Wednesday, August 19th. Finally, Wells Fargo & Company decreased their target price on shares of Amer Sports from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Amer Sports currently has a consensus rating of “Moderate Buy” and an average price target of $44.59.

Amer Sports Stock Performance

Amer Sports stock opened at $29.22 on Tuesday. The firm has a 50 day simple moving average of $29.81 and a 200-day simple moving average of $33.11. The stock has a market cap of $16.18 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 0.90 and a beta of 2.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 0.80. Amer Sports has a 1-year low of $26.10 and a 1-year high of $42.76.

Amer Sports (NYSE:AS) last issued 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. On average, analysts expect that Amer Sports will post 1.30 EPS for the current year.

Insider Activity at Amer Sports

In related news, insider Wen-Chang Chen sold 117,461 shares of the company’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 transaction of $3,124,462.60. Following the sale, the insider directly owned 434,855 shares of the company’s stock, valued at $11,567,143. This represents a 21.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Page sold 2,022 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was 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 approximately $188,242.25. This trade represents a 23.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Trading of Amer Sports

A number of large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 348 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Amer Sports by 1,030.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 814 shares of the company’s stock valued at $30,000 after acquiring an additional 742 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Amer Sports by 45.1% in the third quarter. Farther Finance Advisors LLC now owns 1,718 shares of the company’s stock valued at $47,000 after acquiring an additional 534 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Amer Sports in the second quarter worth approximately $99,000. Finally, PNC Financial Services Group Inc. lifted its stake in Amer Sports by 135.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,090 shares of the company’s stock worth $102,000 after acquiring an additional 1,777 shares during the last quarter. Hedge funds and other institutional investors 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.