Amer Sports (NYSE:AS) Releases Earnings Results, Beats Estimates By $0.11 EPS

Amer Sports (NYSE:AS) issued its earnings results on Monday. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11, FiscalAI reports. The firm 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 6.50% and a return on equity of 10.29%.

Amer Sports Stock Down 0.8%

Amer Sports stock opened at $32.60 on Tuesday. Amer Sports has a fifty-two week low of $28.92 and a fifty-two week high of $42.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 1.66. The company has a market capitalization of $18.06 billion, a P/E ratio of 40.75, a PEG ratio of 1.12 and a beta of 2.05. The stock has a 50-day simple moving average of $34.98 and a 200-day simple moving average of $35.38.

Analyst Ratings Changes

A number of analysts have weighed in on AS shares. JPMorgan Chase & Co. raised their price target on Amer Sports from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. UBS Group upped their price objective on Amer Sports from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Truist Financial increased their price objective on Amer Sports from $49.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Amer Sports in a research report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft set a $52.00 target price on Amer Sports in a research note on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Amer Sports presently has an average rating of “Buy” and an average price target of $49.70.

Insider Transactions at Amer Sports

In related news, CFO Andrew E. Page sold 105,230 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $36.75, for a total transaction of $3,867,202.50. Following the transaction, the chief financial officer owned 4,083 shares in the company, valued at $150,050.25. This trade represents a 96.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wen-Chang (Victor) Chen sold 13,075 shares of Amer Sports stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $35.62, for a total value of $465,731.50. Following the transaction, the insider directly owned 149,821 shares in the company, valued at approximately $5,336,624.02. This trade represents a 8.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 833,580 shares of company stock worth $29,200,266.

Hedge Funds Weigh In On Amer Sports

Hedge funds have recently modified their holdings of the business. Invesco Ltd. boosted its stake in Amer Sports by 19.6% during the 4th quarter. Invesco Ltd. now owns 232,193 shares of the company’s stock worth $8,672,000 after purchasing an additional 37,988 shares during the period. Owlhouse Capital LP purchased a new position in Amer Sports during the 4th quarter worth $4,799,000. Vident Advisory LLC grew its position in Amer Sports by 14.5% during the 4th quarter. Vident Advisory LLC now owns 798,441 shares of the company’s stock worth $29,822,000 after purchasing an additional 101,343 shares during the last quarter. XTX Topco Ltd acquired a new position in Amer Sports in the fourth quarter valued at $694,000. Finally, Zacks Investment Management acquired a new position in Amer Sports in the fourth quarter valued at $2,151,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Amer Sports Company Profile

Amer Sports (NYSE:AS) is a Helsinki-based sporting goods group that designs, develops and markets performance-oriented equipment, apparel and footwear across multiple sports. The company focuses on product innovation, brand-driven marketing and global distribution to serve athletes and outdoor enthusiasts, offering goods for activities such as skiing, running, hiking, tennis, golf and diving.

Amer Sports’ portfolio comprises well-known sports and outdoor brands, including Salomon (outdoor footwear and winter sports), Atomic (alpine skis and ski equipment), Arc’teryx (technical outerwear and climbing gear), Wilson (racquet and ball sports equipment) and Suunto (precision instruments and sports watches).