Amer Sports (NYSE:AS) Stock Price Down 4.2% – What’s Next?

Shares of Amer Sports, Inc. (NYSE:AS) dropped 4.2% during trading on Friday . The stock traded as low as $32.36 and last traded at $32.38. Approximately 214,043 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 2,487,735 shares. The stock had previously closed at $33.78.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AS shares. Hsbc Global Res lowered Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Citigroup lifted their target price on shares of Amer Sports from $24.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley increased their price target on shares of Amer Sports from $19.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. UBS Group lifted their price objective 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. Finally, Evercore ISI increased their target price on shares of Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.07.

Amer Sports Price Performance

The company’s 50-day simple moving average is $28.38 and its 200 day simple moving average is $19.84. The company has a market cap of $17.64 billion and a PE ratio of -230.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62.

Institutional Trading of Amer Sports

Institutional investors have recently modified their holdings of the stock. FMR LLC grew its position in Amer Sports by 71.2% in the 3rd quarter. FMR LLC now owns 7,533,007 shares of the company’s stock valued at $120,151,000 after buying an additional 3,133,312 shares during the last quarter. WT Asset Management Ltd boosted its holdings in shares of Amer Sports by 188.2% in the fourth 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 in the last quarter. WCM Investment Management LLC increased its stake 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 acquiring an additional 306,001 shares during the period. State Street Corp raised its holdings in Amer Sports by 65.1% during the third quarter. State Street Corp now owns 884,526 shares of the company’s stock worth $14,108,000 after purchasing an additional 348,877 shares in the last quarter. Finally, Woodson Capital Management LP purchased a new position in Amer Sports during the third quarter worth about $12,907,000. Hedge funds and other 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.