Amer Sports (NYSE:AS) Sets New 52-Week Low at $12.15

Amer Sports, Inc. (NYSE:ASGet Free Report)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $12.15 and last traded at $12.18, with a volume of 80569 shares traded. The stock had previously closed at $12.53.

Wall Street Analyst Weigh In

AS has been the subject of several research analyst reports. Wells Fargo & Company cut their target price on Amer Sports from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Sanford C. Bernstein restated a “market perform” rating and set a $16.00 price target (down previously from $18.50) on shares of Amer Sports in a report on Monday, April 8th. Finally, Morgan Stanley cut their price target on Amer Sports from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Amer Sports presently has a consensus rating of “Moderate Buy” and an average price target of $18.79.

Check Out Our Latest Report on AS

Amer Sports Stock Down 4.5 %

The firm’s fifty day moving average price is $14.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 0.97.

Amer Sports (NYSE:ASGet Free Report) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.13 billion. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Sell-side analysts expect that Amer Sports, Inc. will post 0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd acquired a new position in Amer Sports during the first quarter worth $390,000. Sei Investments Co. purchased a new position in Amer Sports in the first quarter valued at $968,000. Sandia Investment Management LP purchased a new position in Amer Sports in the first quarter valued at $425,000. Hood River Capital Management LLC purchased a new position in Amer Sports in the first quarter valued at $47,778,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Amer Sports during the first quarter worth about $5,705,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

About Amer Sports

(Get Free Report)

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.

Further Reading

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