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

Amer Sports, Inc. (NYSE:AS) shares 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.

The company reported $0.33 earnings per share (EPS) for the quarter, beating 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%.The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company earned $0.14 earnings per share. The firm’s quarterly revenue was up 29.7% on a year-over-year basis. Amer Sports has set its FY 2025 guidance at 0.880-0.920 EPS.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AS shares. Zacks Research upgraded Amer Sports from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. decreased their price objective on shares of Amer Sports from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday. Hsbc Global Res upgraded shares of Amer Sports from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 27th. The Goldman Sachs Group boosted their price target 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. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Amer Sports in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AS. Bank of New York Mellon Corp lifted its holdings in shares of Amer Sports by 46.4% in the 1st quarter. Bank of New York Mellon Corp now owns 227,375 shares of the company’s stock worth $6,078,000 after acquiring an additional 72,012 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Amer Sports by 16.4% during the 1st quarter. New York State Common Retirement Fund now owns 28,400 shares of the company’s stock valued at $759,000 after purchasing an additional 4,000 shares during the last quarter. Jennison Associates LLC purchased a new position in Amer Sports in the 1st quarter worth $1,978,000. Pinnacle Associates Ltd. lifted its stake in Amer Sports by 5.3% in the first quarter. Pinnacle Associates Ltd. now owns 55,895 shares of the company’s stock worth $1,494,000 after purchasing an additional 2,825 shares during the last quarter. Finally, Machina Capital S.A.S. purchased a new stake in Amer Sports during the first quarter valued at about $376,000. 40.25% of the stock is currently owned by institutional investors.

Amer Sports Stock Up 8.7%

The stock has a 50 day moving average price of $33.03 and a 200-day moving average price of $35.50. The stock has a market capitalization of $18.51 billion, a P/E ratio of 81.53, a PEG ratio of 0.98 and a beta of 2.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.60 and a quick ratio of 0.61.

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.