Amer Sports, Inc. (NYSE:AS) Sees Significant Decrease in Short Interest

Amer Sports, Inc. (NYSE:AS) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 6,190,000 shares, a decline of 9.6% from the September 15th total of 6,850,000 shares. Currently, 9.1% of the shares of the company are short sold. Based on an average daily volume of 1,550,000 shares, the short-interest ratio is presently 4.0 days.

Analyst Upgrades and Downgrades

A number of research firms have commented on AS. Wells Fargo & Company lowered Amer Sports from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $17.00 to $19.00 in a research note on Monday. UBS Group boosted their price target on Amer Sports from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. TD Cowen increased their price objective on shares of Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Evercore ISI reiterated an “outperform” rating and set a $21.00 price target on shares of Amer Sports in a research report on Wednesday, August 21st. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amer Sports has a consensus rating of “Moderate Buy” and a consensus price target of $18.86.

Amer Sports Stock Performance

Amer Sports stock traded down $0.03 during trading hours on Thursday, hitting $18.59. The stock had a trading volume of 420,951 shares, compared to its average volume of 1,658,290. The business’s 50 day simple moving average is $14.84 and its 200-day simple moving average is $14.09. Amer Sports has a one year low of $10.11 and a one year high of $19.73. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81.

Amer Sports (NYSE:AS) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business had revenue of $993.80 million during the quarter, compared to analyst estimates of $947.59 million. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, research analysts predict that Amer Sports will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of Amer Sports

Several institutional investors have recently modified their holdings of AS. Tocqueville Asset Management L.P. acquired a new stake in Amer Sports during the 1st quarter valued at approximately $813,000. Sei Investments Co. bought a new position in shares of Amer Sports in the 1st quarter worth about $968,000. Capstone Investment Advisors LLC acquired a new position in shares of Amer Sports in the 1st quarter valued at about $7,301,000. Shellback Capital LP boosted its position in shares of Amer Sports by 5.0% during the 2nd quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock valued at $6,599,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Amer Sports in the first quarter worth approximately $390,000. Institutional investors own 40.25% of the company’s stock.

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.