JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Amer Sports (NYSE:AS) Stock

Amer Sports (NYSE:AS) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $19.00 to $26.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 9.30% from the stock’s current price.

Several other equities research analysts have also recently commented on AS. UBS Group upped their price target on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Citigroup increased their price objective on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. TD Cowen increased their target price on Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company downgraded 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 report on Monday, October 14th. Finally, Evercore ISI restated an “outperform” rating and issued a $21.00 price objective on shares of Amer Sports in a report on Wednesday, August 21st. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Amer Sports presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.43.

Amer Sports Stock Performance

Shares of Amer Sports stock opened at $23.79 on Wednesday. Amer Sports has a one year low of $10.11 and a one year high of $23.99. The company has a market cap of $12.02 billion and a PE ratio of -164.43. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87. The business has a 50-day simple moving average of $17.72 and a 200-day simple moving average of $14.85.

Amer Sports (NYSE:AS) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a positive return on equity of 3.59% and a negative net margin of 0.74%. The company had revenue of $993.80 million during the quarter, compared to analysts’ expectations of $947.59 million. The company’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities research analysts forecast that Amer Sports will post 0.44 EPS for the current fiscal year.

Institutional Trading of Amer Sports

Several institutional investors have recently added to or reduced their stakes in AS. Sei Investments Co. bought a new stake in Amer Sports in the 1st quarter valued at about $968,000. Quadrature Capital Ltd acquired a new stake in Amer Sports during the first quarter valued at approximately $390,000. Hood River Capital Management LLC acquired a new stake in shares of Amer Sports during the first quarter valued at approximately $47,778,000. Sandia Investment Management LP acquired a new stake in shares of Amer Sports during the first quarter valued at approximately $425,000. Finally, Renaissance Capital LLC raised its holdings in shares of Amer Sports by 50.7% during the second quarter. Renaissance Capital LLC now owns 108,826 shares of the company’s stock valued at $1,368,000 after acquiring an additional 36,632 shares during the period. 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.