Amer Sports (NYSE:AS) Posts Quarterly Earnings Results

Amer Sports (NYSE:AS) announced its quarterly earnings results on Monday. The company reported $0.38 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.84 billion.

Amer Sports Price Performance

NYSE AS opened at $33.15 on Tuesday. Amer Sports has a 12 month low of $28.92 and a 12 month high of $42.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.50 and a quick ratio of 0.76. The firm 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. The company’s 50 day simple moving average is $34.22 and its 200 day simple moving average is $35.80.

Analysts Set New Price Targets

AS has been the topic of several analyst reports. 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 price target on shares of Amer Sports in a research note on Wednesday, May 13th. Evercore raised their price target on shares of Amer Sports from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. UBS Group restated a “buy” rating on shares of Amer Sports in a research note on Friday, March 13th. Finally, Truist Financial set a $49.00 price objective on shares of Amer Sports in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $47.18.

Insider Buying and Selling

In related news, CFO Andrew E. Page sold 6,005 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 11,828 shares in the company, valued at approximately $428,883.28. This trade represents a 33.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Stuart Haselden sold 11,438 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $36.26, for a total transaction of $414,741.88. Following the sale, the chief executive officer owned 15,275 shares of the company’s stock, valued at $553,871.50. The trade was a 42.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 27,125 shares of company stock worth $956,673 in the last quarter.

Institutional Trading of Amer Sports

Large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its holdings in Amer Sports by 43.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,087 shares of the company’s stock worth $265,000 after buying an additional 2,147 shares in the last quarter. Keel Point LLC acquired a new position in Amer Sports in the 2nd quarter worth approximately $258,000. Moors & Cabot Inc. acquired a new position in Amer Sports in the 3rd quarter worth approximately $253,000. Rakuten Securities Inc. boosted its stake in Amer Sports by 3,375.6% in the 2nd quarter. Rakuten Securities Inc. now owns 3,128 shares of the company’s stock worth $121,000 after purchasing an additional 3,038 shares during the period. Finally, Caden Capital Partners LP acquired a new position in Amer Sports in the 4th quarter worth approximately $106,000. 40.25% of the stock is currently owned by institutional investors.

About Amer Sports

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).