Amer Sports (NYSE:AS) Shares Gap Down – Time to Sell?

Amer Sports, Inc. (NYSE:AS) shares gapped down before the market opened on Monday . The stock had previously closed at $30.89, but opened at $28.50. Amer Sports shares last traded at $29.09, with a volume of 1,104,673 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on AS. The Goldman Sachs Group raised their price objective on Amer Sports from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company raised their target price on Amer Sports from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Hsbc Global Res lowered shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Evercore ISI lifted their target price on shares of Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $26.50.

Amer Sports Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. The stock has a market cap of $15.73 billion and a P/E ratio of -205.63. The company has a 50-day simple moving average of $25.78 and a 200-day simple moving average of $18.35.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new stake in Amer Sports in the 3rd quarter valued at about $25,000. Kieckhefer Group LLC bought a new stake in shares of Amer Sports during the fourth quarter valued at approximately $42,000. Signaturefd LLC acquired a new stake in shares of Amer Sports in the third quarter valued at approximately $49,000. GAMMA Investing LLC raised its position in Amer Sports by 61.8% in the 4th quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock worth $54,000 after purchasing an additional 742 shares during the last quarter. Finally, Quarry LP acquired a new position in Amer Sports during the 3rd quarter worth $61,000. 40.25% of the stock is owned by institutional investors.

Amer Sports Company Profile

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.