Amer Sports, Inc. (NYSE:AS) Sees Significant Increase in Short Interest

Amer Sports, Inc. (NYSE:AS) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 6,320,000 shares, a growth of 25.1% from the January 31st total of 5,050,000 shares. Approximately 5.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,220,000 shares, the days-to-cover ratio is presently 2.0 days.

Amer Sports Stock Down 4.0 %

AS stock traded down $1.12 during mid-day trading on Friday, reaching $27.17. The company had a trading volume of 1,170,066 shares, compared to its average volume of 3,097,383. Amer Sports has a fifty-two week low of $10.11 and a fifty-two week high of $34.00. The company has a market capitalization of $14.84 billion and a price-to-earnings ratio of -194.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. The firm has a fifty day simple moving average of $30.14 and a 200 day simple moving average of $23.14.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. Analysts forecast that Amer Sports will post 0.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AS has been the subject of a number of analyst reports. TD Cowen upped their price target on Amer Sports from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price target on shares of Amer Sports from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group boosted their target price on shares of Amer Sports from $28.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on shares of Amer Sports from $25.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Evercore ISI increased their price target on Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.64.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. West Branch Capital LLC increased its stake in Amer Sports by 14,285.7% in the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock valued at $28,000 after purchasing an additional 1,000 shares during the last quarter. Kieckhefer Group LLC purchased a new stake in Amer Sports in the fourth quarter valued at $42,000. JPMorgan Chase & Co. acquired a new position in Amer Sports in the third quarter valued at $25,000. GAMMA Investing LLC boosted its stake in Amer Sports by 61.8% in the fourth quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock valued at $54,000 after acquiring an additional 742 shares in the last quarter. Finally, Sterling Capital Management LLC grew its holdings in shares of Amer Sports by 55.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,487 shares of the company’s stock worth $97,000 after purchasing an additional 1,250 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 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.