Amer Sports, Inc.’s (NYSE:AS) Lock-Up Period Will End Tomorrow

Amer Sports’ (NYSE:AS) lock-up period will expire on Tuesday, July 30th. Amer Sports had issued 105,000,000 shares in its initial public offering on February 1st. The total size of the offering was $1,365,000,000 based on an initial share price of $13.00. After the expiration of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley dropped their price target on Amer Sports from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, May 23rd. Sanford C. Bernstein reiterated a “market perform” rating and set a $16.00 price objective (down previously from $18.50) on shares of Amer Sports in a research report on Monday, April 8th. Finally, Wells Fargo & Company reduced their target price on shares of Amer Sports from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.79.

Amer Sports Stock Performance

NYSE AS opened at $11.04 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 0.97. Amer Sports has a fifty-two week low of $10.47 and a fifty-two week high of $18.23. The business has a 50 day moving average of $13.41.

Amer Sports (NYSE:AS) last posted its quarterly earnings data on Tuesday, May 21st. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Amer Sports’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, sell-side analysts forecast that Amer Sports will post 0.4 EPS for the current fiscal year.

Institutional Trading of Amer Sports

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in Amer Sports in the second quarter worth $297,000. Bank of New York Mellon Corp bought a new position in shares of Amer Sports in the 2nd quarter worth about $3,164,000. Dnca Finance acquired a new position in shares of Amer Sports in the 2nd quarter valued at about $81,000. Renaissance Capital LLC grew its position in shares of Amer Sports by 50.7% during the 2nd quarter. Renaissance Capital LLC now owns 108,826 shares of the company’s stock valued at $1,368,000 after buying an additional 36,632 shares during the last quarter. Finally, Sandia Investment Management LP acquired a new stake in Amer Sports during the first quarter worth about $425,000. 40.25% of the stock is owned by institutional investors.

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.