Amer Sports (NYSE:AS) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Amer Sports (NYSE:AS – Get Free Report) announced its quarterly earnings data on Monday. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.11 by $0.11, FiscalAI reports. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. Amer Sports had a net margin of 6.50% and a return on equity of 10.29%.

Amer Sports Trading Down 0.8%

Shares of NYSE AS opened at $32.60 on Tuesday. The stock has a market capitalization of $18.06 billion, a P/E ratio of 40.75, a PEG ratio of 1.12 and a beta of 2.05. Amer Sports has a 1-year low of $28.92 and a 1-year high of $42.76. The business’s 50 day moving average is $34.98 and its two-hundred day moving average is $35.38. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.66 and a quick ratio of 0.82.

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Insider Buying and Selling

In other news, insider Wen-Chang (Victor) Chen sold 13,075 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $35.62, for a total transaction of $465,731.50. Following the transaction, the insider owned 149,821 shares of the company’s stock, valued at approximately $5,336,624.02. The trade was a 8.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Stuart Haselden sold 215,275 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $35.57, for a total value of $7,657,331.75. Following the sale, the chief executive officer owned 215,275 shares in the company, valued at $7,657,331.75. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 833,580 shares of company stock worth $29,200,266 in the last 90 days.

Institutional Investors Weigh In On Amer Sports

Several hedge funds and other institutional investors have recently made changes to their positions in AS. AQR Capital Management LLC bought a new stake in shares of Amer Sports in the 1st quarter worth about $565,000. Goldman Sachs Group Inc. grew its holdings in Amer Sports by 44.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,173,674 shares of the company’s stock valued at $31,372,000 after purchasing an additional 358,536 shares during the last quarter. Legal & General Group Plc grew its holdings in Amer Sports by 103.2% during the 2nd quarter. Legal & General Group Plc now owns 16,404 shares of the company’s stock valued at $636,000 after purchasing an additional 8,330 shares during the last quarter. American Century Companies Inc. purchased a new stake in Amer Sports in the 2nd quarter worth about $472,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Amer Sports by 276.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,364 shares of the company’s stock worth $130,000 after purchasing an additional 2,470 shares during the period. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft set a $52.00 price target on Amer Sports in a research note on Wednesday, May 20th. JPMorgan Chase & Co. upped their price objective on Amer Sports from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. UBS Group raised their target price on shares of Amer Sports from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Robert W. Baird set a $51.00 price objective on shares of Amer Sports in a report on Wednesday, May 20th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Amer Sports in a report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Amer Sports presently has a consensus rating of “Buy” and an average target price of $49.70.

Read Our Latest Stock Analysis on AS

Amer Sports Company Profile

(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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