Amer Sports (NYSE:AS) PT Raised to $21.00

Amer Sports (NYSE:AS) had its price objective hoisted by equities researchers at The Goldman Sachs Group from $19.00 to $21.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 13.82% from the company’s previous close.

A number of other equities research analysts have also recently commented on AS. UBS Group increased their price objective on shares of Amer Sports from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Evercore ISI restated an “outperform” rating and set a $21.00 price objective on shares of Amer Sports in a research report on Wednesday, August 21st. Wells Fargo & Company cut Amer Sports from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $17.00 to $19.00 in a report on Monday, October 14th. Finally, TD Cowen boosted their price target on Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amer Sports has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

Amer Sports Stock Performance

NYSE AS opened at $18.45 on Monday. The business’s 50 day moving average is $15.42 and its two-hundred day moving average is $14.17. Amer Sports has a 12-month low of $10.11 and a 12-month high of $19.73. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.11. The company had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, analysts expect that Amer Sports will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of Amer Sports

Several large investors have recently bought and sold shares of the company. Signaturefd LLC acquired a new stake in shares of Amer Sports during the third quarter valued at about $49,000. Seven Grand Managers LLC increased its holdings in Amer Sports by 566.7% during the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock worth $1,595,000 after purchasing an additional 85,000 shares during the last quarter. Creative Planning acquired a new position in shares of Amer Sports in the 3rd quarter valued at approximately $656,000. CWM LLC purchased a new position in shares of Amer Sports during the 3rd quarter valued at approximately $73,000. Finally, Artemis Investment Management LLP acquired a new stake in shares of Amer Sports during the third quarter worth approximately $293,000. Institutional investors and hedge funds 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.