Amer Sports (NYSE:AS) Shares Gap Down – What’s Next?

Shares of Amer Sports, Inc. (NYSE:AS) gapped down prior to trading on Monday . The stock had previously closed at $30.89, but opened at $28.50. Amer Sports shares last traded at $29.09, with a volume of 1,104,673 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AS. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Evercore ISI raised their price objective on shares of Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Robert W. Baird lifted their target price on shares of Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Morgan Stanley increased their price target on Amer Sports from $15.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Finally, Citigroup lifted their price objective on Amer Sports from $24.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Amer Sports Stock Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The company has a market cap of $15.73 billion and a price-to-earnings ratio of -205.63. The stock has a 50-day moving average price of $25.78 and a 200 day moving average price of $18.35.

Institutional Trading of Amer Sports

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its holdings in shares of Amer Sports by 734.8% during the third quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock worth $1,288,000 after acquiring an additional 71,086 shares during the period. Woodson Capital Management LP acquired a new stake in shares of Amer Sports in the 3rd quarter valued at about $12,907,000. Shellback Capital LP raised its stake in shares of Amer Sports by 5.0% in the 2nd quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock valued at $6,599,000 after purchasing an additional 25,000 shares during the period. XTX Topco Ltd bought a new stake in shares of Amer Sports in the third quarter valued at about $609,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Amer Sports during the third quarter worth about $337,000. 40.25% of the stock is currently 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.