Amer Sports (NYSE:AS) Stock Price Down 6.3%

Amer Sports, Inc. (NYSE:AS)’s stock price was down 6.3% during mid-day trading on Tuesday . The company traded as low as $14.19 and last traded at $14.25. Approximately 624,143 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 1,741,105 shares. The stock had previously closed at $15.21.

Wall Street Analysts Forecast Growth

AS has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft began coverage on Amer Sports in a research report on Monday, February 26th. They set a “buy” rating and a $20.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of Amer Sports in a research note on Monday, February 26th. They issued an “overweight” rating and a $19.00 target price for the company. The Goldman Sachs Group began coverage on Amer Sports in a research report on Monday, February 26th. They issued a “buy” rating and a $21.00 target price on the stock. UBS Group assumed coverage on shares of Amer Sports in a research report on Monday, February 26th. They set a “buy” rating and a $23.00 price objective for the company. Finally, Evercore ISI assumed coverage on Amer Sports in a research note on Monday, February 26th. They issued an “outperform” rating and a $21.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.86.

Amer Sports Trading Down 6.1 %

The company has a debt-to-equity ratio of 477.02, a current ratio of 1.49 and a quick ratio of 0.80. The firm’s fifty day moving average is $15.34.

Amer Sports (NYSE:AS) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. On average, sell-side analysts expect that Amer Sports, Inc. will post 0.42 EPS for the current year.

Institutional Investors Weigh In On Amer Sports

Several institutional investors and hedge funds have recently added to or reduced their stakes in AS. SYSTM Wealth Solutions LLC bought a new stake in shares of Amer Sports in the first quarter valued at $319,000. China Universal Asset Management Co. Ltd. purchased a new stake in Amer Sports in the 1st quarter worth about $1,521,000. Finally, Seven Grand Managers LLC bought a new stake in Amer Sports in the 1st quarter valued at about $1,630,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

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.