Amer Sports, Inc. (NYSE:AS) Given Average Recommendation of “Moderate Buy” by Brokerages

Amer Sports, Inc. (NYSE:AS) has received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $18.79.

A number of analysts have recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Amer Sports from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Thursday, May 23rd. Wells Fargo & Company lowered their target price on shares of Amer Sports from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Bank of America lifted their target price on shares of Amer Sports from $18.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $16.00 price target (down previously from $18.50) on shares of Amer Sports in a research report on Monday, April 8th.

Amer Sports Trading Down 4.0 %

Amer Sports stock opened at $12.57 on Friday. Amer Sports has a 12 month low of $12.54 and a 12 month high of $18.23. The company has a current ratio of 1.96, a quick ratio of 0.97 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average price of $14.68.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, May 21st. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.13 billion. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. Sell-side analysts expect that Amer Sports will post 0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

Several hedge funds have recently modified their holdings of AS. SYSTM Wealth Solutions LLC purchased a new stake in Amer Sports during the first quarter valued at approximately $319,000. Quadrature Capital Ltd acquired a new stake in shares of Amer Sports in the first quarter worth $390,000. Sandia Investment Management LP acquired a new stake in shares of Amer Sports in the first quarter worth $425,000. Tocqueville Asset Management L.P. acquired a new stake in shares of Amer Sports in the first quarter worth $813,000. Finally, Sei Investments Co. acquired a new stake in shares of Amer Sports in the first quarter worth $968,000. Hedge funds and other 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.