Amer Sports’ (NYSE:AS – Get Free Report) lock-up period is set to expire on Tuesday, July 30th. Amer Sports had issued 105,000,000 shares in its public offering on February 1st. The total size of the offering was $1,365,000,000 based on an initial share price of $13.00. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of Amer Sports from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, May 23rd. Wells Fargo & Company cut their price target on shares of Amer Sports from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $16.00 price target (down previously from $18.50) on shares of Amer Sports in a report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.79.
View Our Latest Stock Analysis on Amer Sports
Amer Sports Stock Performance
Amer Sports (NYSE:AS – Get Free Report) last announced its earnings results on Tuesday, May 21st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.13 billion. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts expect that Amer Sports will post 0.4 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Hood River Capital Management LLC acquired a new stake in shares of Amer Sports in the 1st quarter worth $47,778,000. Capstone Investment Advisors LLC acquired a new stake in shares of Amer Sports in the 1st quarter worth $7,301,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Amer Sports in the 1st quarter worth $5,705,000. Bank of New York Mellon Corp acquired a new stake in shares of Amer Sports in the 2nd quarter worth $3,164,000. Finally, Value Star Asset Management Hong Kong Ltd acquired a new stake in shares of Amer Sports in the 1st quarter worth $2,061,000. 40.25% of the stock is 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.
See Also
- Five stocks we like better than Amer Sports
- Health Care Stocks Explained: Why You Might Want to Invest
- Survey: Top 175 Fittest Retirement Locations in America
- How to Effectively Use the MarketBeat Ratings Screener
- Kimberly-Clark Stock Dips and a Buying Opportunity Emerges
- High Dividend REITs: Are They an Ideal Way to Diversify?
- Leading Gold Stock Shines With Q2 2024 Earnings Release
Receive News & Ratings for Amer Sports Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amer Sports and related companies with MarketBeat.com's FREE daily email newsletter.