Amer Sports (NYSE:AS) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

Amer Sports, Inc. (NYSE:AS) passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $28.63 and traded as high as $29.48. Amer Sports shares last traded at $29.28, with a volume of 4,508,111 shares traded.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings cut shares of Amer Sports from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Piper Sandler reiterated an “overweight” rating on shares of Amer Sports in a research note on Wednesday, August 19th. Citigroup reissued a “buy” rating on shares of Amer Sports in a report on Monday, September 21st. Jefferies Financial Group initiated coverage on Amer Sports in a research report on Tuesday, October 13th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Amer Sports in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.59.

Amer Sports Stock Performance

The company has a market capitalization of $16.29 billion, a P/E ratio of 30.96, a P/E/G ratio of 0.93 and a beta of 2.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.80 and a current ratio of 1.76. The business’s fifty day simple moving average is $28.57 and its 200-day simple moving average is $33.72.

Amer Sports (NYSE:AS) last released its quarterly earnings data on Monday, August 17th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.11 by $0.11. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. Amer Sports had a net margin of 7.35% and a return on equity of 11.18%. The business’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. As a group, equities analysts anticipate that Amer Sports, Inc. will post 1.30 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Wen-Chang Chen sold 117,461 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $26.60, for a total transaction of $3,124,462.60. Following the completion of the transaction, the insider directly owned 434,855 shares in the company, valued at approximately $11,567,143. This represents a 21.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew E. Page sold 2,022 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $28.63, for a total transaction of $57,889.86. Following the completion of the transaction, the chief financial officer directly owned 6,575 shares of the company’s stock, valued at approximately $188,242.25. This trade represents a 23.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Investors Weigh In On Amer Sports

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in Amer Sports by 84.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 761 shares of the company’s stock valued at $25,000 after buying an additional 348 shares during the period. GAMMA Investing LLC grew its stake in Amer Sports by 10.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,223 shares of the company’s stock worth $143,000 after acquiring an additional 405 shares in the last quarter. Covestor Ltd increased its position in shares of Amer Sports by 20.2% during the third quarter. Covestor Ltd now owns 2,531 shares of the company’s stock worth $69,000 after acquiring an additional 426 shares during the period. TD Waterhouse Canada Inc. increased its position in shares of Amer Sports by 14.9% during the second quarter. TD Waterhouse Canada Inc. now owns 3,329 shares of the company’s stock worth $114,000 after acquiring an additional 432 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Amer Sports by 45.1% during the third quarter. Farther Finance Advisors LLC now owns 1,718 shares of the company’s stock worth $47,000 after acquiring an additional 534 shares during the period. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Amer Sports Company Profile

Amer Sports, Inc is a global sporting and outdoor equipment company that develops, manufactures and markets apparel, footwear, equipment and accessories. Its portfolio includes internationally recognized brands such as Arc’teryx, Salomon, Wilson, Peak Performance, Atomic and ENVE.

The company organizes its business around outdoor and performance sports, including mountain sports, winter sports, trail running, hiking and other outdoor activities, as well as ball and racquet sports. Its products range from technical apparel and footwear to skis, snowboarding equipment, bicycles, tennis and padel racquets, team-sport equipment and related accessories.

Amer Sports traces its origins to Finland, where it was established in 1950, and serves consumers through wholesale and direct-to-consumer channels across North America, Europe, Asia and other international markets.