Amer Sports (NYSE:AS) Shares Gap Down – Here’s Why

Shares of Amer Sports, Inc. (NYSE:AS) gapped down prior to trading on Monday . The stock had previously closed at $19.56, but opened at $18.69. Amer Sports shares last traded at $19.09, with a volume of 840,678 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AS shares. TD Cowen boosted their target price on Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore ISI restated an “outperform” rating and issued a $21.00 price objective on shares of Amer Sports in a research note on Wednesday, August 21st. Wells Fargo & Company lowered shares of Amer Sports from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $17.00 to $19.00 in a research note on Monday. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, UBS Group raised their price target on Amer Sports from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.86.

Amer Sports Stock Down 6.7 %

The firm has a fifty day simple moving average of $14.70 and a 200 day simple moving average of $14.06. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The business had revenue of $993.80 million during the quarter, compared to analyst estimates of $947.59 million. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, analysts expect that Amer Sports, Inc. will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of Amer Sports

Several institutional investors have recently made changes to their positions in AS. CWM LLC acquired a new position in Amer Sports in the third quarter worth about $73,000. Dnca Finance acquired a new position in shares of Amer Sports in the 2nd quarter worth approximately $81,000. Amalgamated Bank acquired a new position in shares of Amer Sports in the 2nd quarter worth approximately $83,000. Artemis Investment Management LLP bought a new position in shares of Amer Sports during the 3rd quarter worth approximately $293,000. Finally, Summit Securities Group LLC acquired a new stake in Amer Sports in the 2nd quarter valued at $297,000. 40.25% of the stock is currently owned by institutional investors and hedge funds.

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.