Amer Sports (NYSE:AS) Shares Gap Down - Here's Why

Amer Sports, Inc. (NYSE:AS - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $30.89, but opened at $28.50. Amer Sports shares last traded at $29.09, with a volume of 1,104,673 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AS. HSBC downgraded Amer Sports from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a report on Monday, December 16th. JPMorgan Chase & Co. boosted their target price on shares of Amer Sports from $19.00 to $26.00 and gave the company an "overweight" rating in a research note on Wednesday, November 20th. TD Cowen raised their price target on shares of Amer Sports from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Nomura Securities raised shares of Amer Sports to a "strong-buy" rating in a report on Tuesday, September 24th. Finally, The Goldman Sachs Group increased their price objective on shares of Amer Sports from $28.00 to $31.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $26.50.

Amer Sports Stock Performance

The company has a 50-day moving average price of $26.01 and a 200-day moving average price of $18.43. 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 firm has a market capitalization of $16.12 billion and a price-to-earnings ratio of -210.70.

Institutional Investors Weigh In On Amer Sports

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers acquired a new position in Amer Sports during the 2nd quarter valued at about $1,142,000. Amalgamated Bank bought a new position in shares of Amer Sports in the second quarter valued at approximately $83,000. Sei Investments Co. increased its stake in shares of Amer Sports by 23.1% during the second quarter. Sei Investments Co. now owns 73,141 shares of the company's stock valued at $919,000 after acquiring an additional 13,748 shares during the period. Hood River Capital Management LLC raised its holdings in Amer Sports by 32.9% during the second quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company's stock worth $48,983,000 after purchasing an additional 965,625 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Amer Sports by 308.3% in the second quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company's stock worth $39,045,000 after purchasing an additional 2,345,420 shares during the period. 40.25% of the stock is currently owned by institutional investors.

Amer Sports Company Profile

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.