Amer Sports (NYSE:AS) Trading Up 6.1% - Time to Buy?

Amer Sports, Inc. (NYSE:AS - Get Free Report)'s share price shot up 6.1% during mid-day trading on Monday . The stock traded as high as $19.03 and last traded at $18.91. 413,234 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,658,372 shares. The stock had previously closed at $17.82.

Wall Street Analysts Forecast Growth

AS has been the subject of several recent research reports. TD Cowen boosted their price objective on Amer Sports from $17.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Evercore ISI reissued an "outperform" rating and set a $21.00 price target on shares of Amer Sports in a research note on Wednesday, August 21st. The Goldman Sachs Group raised their price objective on shares of Amer Sports from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Nomura Securities raised shares of Amer Sports to a "strong-buy" rating in a report on Tuesday, September 24th. Finally, UBS Group increased their price target on Amer Sports from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.86.

Amer Sports Price Performance

The company has a 50-day moving average of $16.23 and a 200-day moving average of $14.37. 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 issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.11. The company had revenue of $993.80 million during the quarter, compared to the consensus estimate of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The company's quarterly revenue was up 16.0% compared to the same quarter last year. Equities analysts forecast that Amer Sports, Inc. will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Amer Sports

Institutional investors have recently bought and sold shares of the company. Sei Investments Co. bought a new position in shares of Amer Sports in the first quarter valued at about $968,000. Value Star Asset Management Hong Kong Ltd bought a new stake in shares of Amer Sports during the 1st quarter worth approximately $2,061,000. Tocqueville Asset Management L.P. acquired a new stake in shares of Amer Sports during the 1st quarter worth approximately $813,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Amer Sports in the 1st quarter valued at $5,705,000. Finally, Quadrature Capital Ltd acquired a new position in Amer Sports during the first quarter worth about $390,000. 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.