Citigroup Raises Amer Sports (NYSE:AS) Price Target to $24.00

Amer Sports (NYSE:AS) had its price objective raised by investment analysts at Citigroup from $19.00 to $24.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 21.83% from the stock’s previous close.

AS has been the subject of a number of other research reports. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Evercore ISI reiterated an “outperform” rating and set a $21.00 price target on shares of Amer Sports in a research note on Wednesday, August 21st. The Goldman Sachs Group increased their price objective on Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. TD Cowen boosted their price target on Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company cut shares of Amer Sports from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $17.00 to $19.00 in a research note on Monday, October 14th. Four 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 company has an average rating of “Moderate Buy” and a consensus price target of $19.57.

Amer Sports Trading Down 1.4 %

Shares of NYSE AS opened at $19.70 on Tuesday. Amer Sports has a one year low of $10.11 and a one year high of $20.68. The firm has a fifty day moving average of $16.99 and a 200 day moving average of $14.62. 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 announced its earnings results 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. The company had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The company’s revenue was up 16.0% on a year-over-year basis. As a group, analysts forecast that Amer Sports will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Amer Sports

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its position in shares of Amer Sports by 71.2% during the third quarter. FMR LLC now owns 7,533,007 shares of the company’s stock worth $120,151,000 after acquiring an additional 3,133,312 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in Amer Sports during the 1st quarter worth approximately $47,778,000. Point72 Hong Kong Ltd boosted its stake in Amer Sports by 557.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock valued at $41,161,000 after acquiring an additional 2,776,619 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Amer Sports by 308.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock worth $39,045,000 after acquiring an additional 2,345,420 shares in the last quarter. Finally, WT Asset Management Ltd increased its position in shares of Amer Sports by 104.4% in the 3rd quarter. WT Asset Management Ltd now owns 1,251,181 shares of the company’s stock worth $19,956,000 after purchasing an additional 638,939 shares during the last quarter. 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.