Amer Sports (NYSE:AS) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Amer Sports (NYSE:AS) released its earnings results on Monday. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.31 by $0.07, FiscalAI reports. Amer Sports had a net margin of 6.51% and a return on equity of 9.74%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.84 billion.

Amer Sports Stock Performance

Shares of AS opened at $33.15 on Tuesday. The company has a 50-day simple moving average of $34.22 and a 200-day simple moving average of $35.80. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $18.36 billion, a PE ratio of 44.20, a P/E/G ratio of 1.35 and a beta of 2.16. Amer Sports has a 52-week low of $28.92 and a 52-week high of $42.76.

Insider Transactions at Amer Sports

In other news, CEO Stuart Haselden sold 11,438 shares of the stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $36.26, for a total value of $414,741.88. Following the completion of the transaction, the chief executive officer owned 15,275 shares in the company, valued at $553,871.50. This trade represents a 42.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew E. Page sold 6,005 shares of the stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $36.26, for a total transaction of $217,741.30. Following the completion of the transaction, the chief financial officer owned 11,828 shares of the company’s stock, valued at $428,883.28. This represents a 33.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 27,125 shares of company stock valued at $956,673 in the last quarter.

Hedge Funds Weigh In On Amer Sports

A number of large investors have recently made changes to their positions in the stock. Viking Global Investors LP increased its holdings in shares of Amer Sports by 63.5% in the 3rd quarter. Viking Global Investors LP now owns 6,343,481 shares of the company’s stock valued at $220,436,000 after purchasing an additional 2,462,832 shares in the last quarter. Morgan Stanley increased its holdings in shares of Amer Sports by 16.0% in the 4th quarter. Morgan Stanley now owns 3,707,204 shares of the company’s stock valued at $138,464,000 after purchasing an additional 510,419 shares in the last quarter. Scopus Asset Management L.P. purchased a new position in Amer Sports during the 2nd quarter valued at about $108,562,000. BNP Paribas Financial Markets increased its holdings in Amer Sports by 244.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,533,612 shares of the company’s stock valued at $98,203,000 after acquiring an additional 1,798,170 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in Amer Sports by 2.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,312,195 shares of the company’s stock valued at $80,349,000 after acquiring an additional 60,213 shares in the last quarter. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Wall Street Analysts Forecast Growth

AS has been the subject of several recent analyst reports. Zacks Research cut shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. UBS Group restated a “buy” rating on shares of Amer Sports in a research note on Friday, March 13th. Piper Sandler restated an “overweight” rating on shares of Amer Sports in a research note on Friday, February 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $50.00 target price on shares of Amer Sports in a research note on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of Amer Sports from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Amer Sports has an average rating of “Buy” and a consensus price target of $47.18.

Amer Sports Company Profile

Amer Sports (NYSE:AS) is a Helsinki-based sporting goods group that designs, develops and markets performance-oriented equipment, apparel and footwear across multiple sports. The company focuses on product innovation, brand-driven marketing and global distribution to serve athletes and outdoor enthusiasts, offering goods for activities such as skiing, running, hiking, tennis, golf and diving.

Amer Sports’ portfolio comprises well-known sports and outdoor brands, including Salomon (outdoor footwear and winter sports), Atomic (alpine skis and ski equipment), Arc’teryx (technical outerwear and climbing gear), Wilson (racquet and ball sports equipment) and Suunto (precision instruments and sports watches).