Amer Sports (NYSE:AS) Stock Picked Up by Analysts at Cantor Fitzgerald

Analysts at Cantor Fitzgerald began coverage on shares of Amer Sports (NYSE:AS) in a note issued to investors on Tuesday, MarketBeat reports. The brokerage set an “overweight” rating and a $46.00 price target on the stock. Cantor Fitzgerald‘s price objective would indicate a potential upside of 41.37% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. BMO Capital Markets restated an “outperform” rating on shares of Amer Sports in a report on Monday, September 21st. JPMorgan Chase & Co. lifted their price target on shares of Amer Sports from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Truist Financial decreased their price target on shares of Amer Sports from $50.00 to $42.00 and set a “buy” rating for the company in a report on Wednesday, August 19th. Weiss Ratings downgraded Amer Sports from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Finally, Jefferies Financial Group assumed coverage on Amer Sports in a report on Tuesday, October 13th. They set a “buy” rating and a $42.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.67.

Amer Sports Stock Up 3.4%

NYSE AS opened at $32.54 on Tuesday. The firm has a market cap of $18.02 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 1.02 and a beta of 1.98. Amer Sports has a one year low of $26.10 and a one year high of $42.76. The stock’s 50 day simple moving average is $28.58 and its 200 day simple moving average is $33.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 0.80.

Amer Sports (NYSE:AS) last released its quarterly earnings results on Monday, August 17th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. Amer Sports had a return on equity of 11.18% and a net margin of 7.35%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the firm posted $0.03 EPS. The business’s revenue was up 32.1% on a year-over-year basis. As a group, sell-side analysts forecast that Amer Sports 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 on Tuesday, September 15th. The shares were sold at an average price of $26.60, for a total transaction of $3,124,462.60. Following the completion of the sale, the insider owned 434,855 shares of the company’s stock, valued at $11,567,143. This represents a 21.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew E. Page sold 2,022 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $28.63, for a total transaction of $57,889.86. Following the sale, the chief financial officer owned 6,575 shares in the company, valued at approximately $188,242.25. The trade was a 23.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hedge Funds Weigh In On Amer Sports

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in shares of 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 purchasing an additional 348 shares during the period. Rockefeller Capital Management L.P. raised its position in Amer Sports by 1,030.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 814 shares of the company’s stock valued at $30,000 after buying an additional 742 shares during the last quarter. Harbour Investments Inc. raised its position in Amer Sports by 117.4% in the 3rd quarter. Harbour Investments Inc. now owns 937 shares of the company’s stock valued at $26,000 after buying an additional 506 shares during the last quarter. Farther Finance Advisors LLC raised its position in Amer Sports by 45.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,718 shares of the company’s stock valued at $47,000 after buying an additional 534 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Amer Sports by 31.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,523 shares of the company’s stock valued at $69,000 after acquiring an additional 598 shares in the last quarter. Institutional investors own 40.25% of the company’s stock.

Amer Sports Company Profile

Amer Sports is a global sporting goods company whose portfolio includes Arc’teryx, Salomon, Wilson, Atomic, Peak Performance and other brands. Its products span technical apparel and footwear, outdoor and winter sports equipment, and gear for sports such as tennis, baseball and basketball.

The company serves consumers and athletes in markets around the world through its brands’ retail, wholesale and direct-to-consumer channels. Its operations are organized around technical apparel, outdoor performance, and ball and racquet sports.

Amer Sports traces its origins to 1950, when it was established in Finland as Amer-Tupakka, a tobacco company that later diversified into sporting goods.