Amer Sports (NYSE:AS) Shares Gap Up on Strong Earnings

Amer Sports, Inc. (NYSE:AS)’s stock price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $30.76, but opened at $33.02. Amer Sports shares last traded at $32.8570, with a volume of 3,674,911 shares traded.

The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.08. Amer Sports had a return on equity of 6.87% and a net margin of 3.93%.During the same quarter in the previous year, the business posted $0.14 EPS. The firm’s revenue was up 29.7% compared to the same quarter last year. Amer Sports has set its FY 2025 guidance at 0.880-0.920 EPS.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AS shares. Zacks Research raised Amer Sports from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amer Sports in a research note on Wednesday, October 8th. Hsbc Global Res raised Amer Sports from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 27th. UBS Group lifted their price target on Amer Sports from $50.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Finally, The Goldman Sachs Group boosted their price objective on shares of Amer Sports from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Amer Sports currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.21.

Institutional Trading of Amer Sports

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Amer Sports by 17.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,614 shares of the company’s stock worth $101,000 after purchasing an additional 387 shares during the period. Scotia Capital Inc. grew its holdings in Amer Sports by 1.0% during the 1st quarter. Scotia Capital Inc. now owns 50,841 shares of the company’s stock valued at $1,359,000 after buying an additional 488 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in Amer Sports by 146.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 897 shares of the company’s stock worth $35,000 after acquiring an additional 533 shares during the period. Mackenzie Financial Corp increased its stake in Amer Sports by 1.1% in the third quarter. Mackenzie Financial Corp now owns 48,745 shares of the company’s stock valued at $1,694,000 after purchasing an additional 540 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Amer Sports by 2.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 35,300 shares of the company’s stock valued at $1,227,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Amer Sports Price Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.60 and a quick ratio of 0.61. The company’s 50-day moving average is $33.10 and its 200-day moving average is $35.45. The firm has a market capitalization of $18.35 billion, a price-to-earnings ratio of 80.82, a PEG ratio of 0.97 and a beta of 2.97.

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.