Amer Sports (NYSE:AS) Sees Unusually-High Trading Volume on Earnings Beat

Amer Sports, Inc. (NYSE:ASGet Free Report) shares saw an uptick in trading volume on Tuesday after the company announced better than expected quarterly earnings. 4,619,576 shares were traded during mid-day trading, an increase of 3% from the previous session’s volume of 4,469,892 shares.The stock last traded at $34.6190 and had previously closed at $33.15.

The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.07. Amer Sports had a return on equity of 9.74% and a net margin of 6.51%.The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 32.1% on a year-over-year basis.

More Amer Sports News

Here are the key news stories impacting Amer Sports this week:

Analysts Set New Price Targets

Several equities research analysts have commented on AS shares. Truist Financial set a $49.00 price target on shares of Amer Sports in a research report on Wednesday, February 25th. Piper Sandler reiterated an “overweight” rating on shares of Amer Sports in a report on Friday, February 20th. Weiss Ratings upgraded shares of Amer Sports from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Evercore lifted their price target on shares of Amer Sports from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Finally, Zacks Research cut Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $47.18.

Get Our Latest Analysis on Amer Sports

Insider Transactions at Amer Sports

In other news, CEO Stuart Haselden sold 11,438 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 15,275 shares of the company’s stock, valued at $553,871.50. This represents a 42.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 that occurred on Thursday, April 16th. The stock was 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 owned 11,828 shares of the company’s stock, valued at approximately $428,883.28. The trade was a 33.67% decrease in their position. 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 sold a total of 27,125 shares of company stock worth $956,673 in the last quarter.

Institutional Trading of Amer Sports

Institutional investors have recently bought and sold shares of the company. Edgestream Partners L.P. acquired a new position in Amer Sports in the 1st quarter worth about $1,220,000. Amundi lifted its holdings in shares of Amer Sports by 209.6% during the 1st quarter. Amundi now owns 611,820 shares of the company’s stock valued at $20,141,000 after buying an additional 414,233 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Amer Sports by 84.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 761 shares of the company’s stock valued at $25,000 after buying an additional 348 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Amer Sports by 16.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 44,871 shares of the company’s stock valued at $1,477,000 after buying an additional 6,496 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of Amer Sports by 23.6% in the 1st quarter. Quantinno Capital Management LP now owns 53,865 shares of the company’s stock valued at $1,773,000 after buying an additional 10,268 shares in the last quarter. Institutional investors and hedge funds own 40.25% of the company’s stock.

Amer Sports Stock Up 3.4%

The business has a fifty day moving average of $34.22 and a 200 day moving average of $35.80. The stock has a market cap of $18.99 billion, a price-to-earnings ratio of 45.88, a P/E/G ratio of 1.35 and a beta of 2.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.50 and a quick ratio of 0.76.

About Amer Sports

(Get Free Report)

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).

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