Amer Sports, Inc.’s Lock-Up Period Will Expire on July 30th (NYSE:AS)

Amer Sports’ (NYSE:AS) 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.

Amer Sports Stock Performance

Amer Sports stock opened at $11.26 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.97 and a current ratio of 1.96. Amer Sports has a 12 month low of $10.47 and a 12 month high of $18.23. The stock has a 50 day moving average of $13.31.

Amer Sports (NYSE:AS) 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.