Amer Sports (NYSE:AS) Hits New 52-Week High - Time to Buy?

Shares of Amer Sports, Inc. (NYSE:AS - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $19.79 and last traded at $19.79, with a volume of 6502 shares. The stock had previously closed at $19.37.

Wall Street Analysts Forecast Growth

AS has been the subject of a number of research analyst reports. Nomura Securities upgraded Amer Sports to a "strong-buy" rating in a report on Tuesday, September 24th. Evercore ISI reaffirmed an "outperform" rating and issued a $21.00 price objective on shares of Amer Sports in a research note on Wednesday, August 21st. TD Cowen increased their target price on shares of Amer Sports from $17.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. The Goldman Sachs Group lifted their price target on shares of Amer Sports from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company lowered shares of Amer Sports from an "overweight" rating to an "equal weight" rating and increased their price objective for the stock from $17.00 to $19.00 in a research report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $19.21.

Amer Sports Stock Up 6.2 %

The company's fifty day moving average price is $16.72 and its 200 day moving average price is $14.55. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81.

Amer Sports (NYSE:AS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.11. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The company had revenue of $993.80 million during the quarter, compared to the consensus estimate of $947.59 million. The company's revenue for the quarter was up 16.0% on a year-over-year basis. Equities analysts forecast that Amer Sports, Inc. will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Amer Sports

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in shares of Amer Sports during the 3rd quarter worth $2,097,000. WCM Investment Management LLC boosted its holdings in shares of Amer Sports by 29.9% during the third quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company's stock worth $21,787,000 after purchasing an additional 306,001 shares during the period. WT Asset Management Ltd grew its position in Amer Sports by 104.4% during the third quarter. WT Asset Management Ltd now owns 1,251,181 shares of the company's stock valued at $19,956,000 after purchasing an additional 638,939 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Amer Sports by 47.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 116,970 shares of the company's stock valued at $1,866,000 after buying an additional 37,500 shares during the period. Finally, Signaturefd LLC purchased a new stake in Amer Sports in the 3rd quarter worth approximately $49,000. Institutional investors 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.