Investors Buy Large Volume of Amer Sports Call Options (NYSE:AS)

Amer Sports, Inc. (NYSE:AS) was the target of some unusual options trading activity on Tuesday. Stock traders bought 9,307 call options on the company. This represents an increase of approximately 810% compared to the typical volume of 1,023 call options.

Institutional Investors Weigh In On Amer Sports

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Scotia Capital Inc. grew its position in Amer Sports by 1.0% in the 1st quarter. Scotia Capital Inc. now owns 50,841 shares of the company’s stock worth $1,359,000 after purchasing an additional 488 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Amer Sports by 19.1% during the 1st quarter. Signaturefd LLC now owns 4,925 shares of the company’s stock valued at $132,000 after buying an additional 789 shares in the last quarter. West Branch Capital LLC lifted its stake in shares of Amer Sports by 14,285.7% during the 4th quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock valued at $28,000 after buying an additional 1,000 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Amer Sports by 55.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,487 shares of the company’s stock worth $97,000 after buying an additional 1,250 shares during the last quarter. Finally, Quarry LP purchased a new stake in Amer Sports during the 1st quarter valued at $34,000. 40.25% of the stock is owned by institutional investors.

Amer Sports Stock Performance

Shares of NYSE:AS opened at $37.23 on Wednesday. The company’s 50 day simple moving average is $26.08 and its 200 day simple moving average is $27.01. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of -265.91, a price-to-earnings-growth ratio of 0.72 and a beta of 2.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. Amer Sports has a 1 year low of $10.11 and a 1 year high of $37.99.

Amer Sports (NYSE:AS) last issued its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 EPS. As a group, research analysts predict that Amer Sports will post 0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AS. Sanford C. Bernstein started coverage on shares of Amer Sports in a research report on Thursday, February 13th. They issued an “outperform” rating and a $38.00 price objective for the company. The Goldman Sachs Group reduced their price objective on shares of Amer Sports from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. raised their target price on shares of Amer Sports from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Citigroup cut their target price on shares of Amer Sports from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Finally, Wells Fargo & Company raised their price objective on shares of Amer Sports from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amer Sports currently has an average rating of “Moderate Buy” and an average target price of $31.55.

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.