Amer Sports (NYSE:AS) Shares Gap Down – Should You Sell?

Amer Sports, Inc. (NYSE:AS) gapped down prior to trading on Tuesday . The stock had previously closed at $28.60, but opened at $26.40. Amer Sports shares last traded at $27.83, with a volume of 1,022,222 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AS shares. UBS Group boosted their target price on shares of Amer Sports from $27.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Evercore ISI increased their price objective on Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Morgan Stanley upped their price target on Amer Sports from $19.00 to $27.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Wells Fargo & Company boosted their price objective on shares of Amer Sports from $20.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Finally, The Goldman Sachs Group increased their target price 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. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.64.

Amer Sports Price Performance

The firm’s fifty day simple moving average is $30.00 and its 200-day simple moving average is $22.30. 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 $15.86 billion and a PE ratio of -206.21.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.60 billion. Amer Sports’s quarterly revenue was up 23.2% on a year-over-year basis. On average, research analysts forecast that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amer Sports

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in Amer Sports by 61.8% in the fourth quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock worth $54,000 after purchasing an additional 742 shares during the last quarter. West Branch Capital LLC boosted its holdings in shares of Amer Sports by 14,285.7% in the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock worth $28,000 after buying an additional 1,000 shares during the last quarter. Signaturefd LLC increased its holdings in Amer Sports by 35.0% during the fourth quarter. Signaturefd LLC now owns 4,136 shares of the company’s stock valued at $116,000 after buying an additional 1,073 shares during the last quarter. Sterling Capital Management LLC raised its position in Amer Sports by 55.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,487 shares of the company’s stock worth $97,000 after acquiring an additional 1,250 shares during the period. Finally, Kieckhefer Group LLC purchased a new position in shares of Amer Sports during the 4th quarter worth $42,000. Institutional investors own 40.25% of the company’s stock.

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.