Amer Sports (NYSE:AS) Hits New 1-Year High – Should You Buy?

Amer Sports, Inc. (NYSE:AS) reached a new 52-week high during trading on Tuesday . The company traded as high as $31.75 and last traded at $31.67, with a volume of 574886 shares changing hands. The stock had previously closed at $30.44.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AS. TD Cowen raised their price target on Amer Sports from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. UBS Group boosted their price target on shares of Amer Sports from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Robert W. Baird raised their price objective on shares of Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Hsbc Global Res downgraded shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, Wells Fargo & Company increased their target price on shares of Amer Sports from $20.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.07.

Amer Sports Trading Up 4.6 %

The company has a market cap of $17.39 billion and a price-to-earnings ratio of -227.07. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $27.50 and its two-hundred day simple moving average is $19.38.

Institutional Trading of Amer Sports

A number of hedge funds and other institutional investors have recently made changes to their positions in AS. Choreo LLC purchased a new stake in shares of Amer Sports in the fourth quarter valued at about $250,000. WT Asset Management Ltd raised its stake in Amer Sports by 188.2% during the 4th quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company’s stock valued at $100,834,000 after acquiring an additional 2,355,182 shares during the last quarter. Renaissance Capital LLC lifted its position in Amer Sports by 116.2% during the 4th quarter. Renaissance Capital LLC now owns 135,697 shares of the company’s stock worth $3,794,000 after acquiring an additional 72,936 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Amer Sports by 15.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 135,570 shares of the company’s stock valued at $3,791,000 after purchasing an additional 18,600 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Amer Sports in the fourth quarter valued at approximately $104,000. Institutional investors and hedge funds own 40.25% of the company’s stock.

About Amer Sports

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.