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

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

Analysts Set New Price Targets

A number of research firms have recently commented on AS. Sanford C. Bernstein restated a “market perform” rating and issued a $16.00 price objective (down from $18.50) on shares of Amer Sports in a research report on Monday, April 8th. UBS Group started coverage on Amer Sports in a research report on Monday, February 26th. They set a “buy” rating and a $23.00 price target on the stock. Bank of America lifted their target price on shares of Amer Sports from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. BNP Paribas started coverage on shares of Amer Sports in a research report on Monday, February 26th. They set an “outperform” rating and a $19.00 price target for the company. Finally, Evercore ISI initiated coverage on Amer Sports in a research note on Monday, February 26th. They set an “outperform” rating and a $21.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.86.

Amer Sports Stock Down 6.1 %

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

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. On average, sell-side analysts anticipate that Amer Sports, Inc. will post 0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

Institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. bought a new stake in shares of Amer Sports in the first quarter worth $1,521,000. SYSTM Wealth Solutions LLC purchased a new position in Amer Sports in the first quarter worth about $319,000. Finally, Seven Grand Managers LLC purchased a new stake in shares of Amer Sports during the 1st quarter valued at about $1,630,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

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.