Robert W. Baird Increases Amer Sports (NYSE:AS) Price Target to $24.00

Amer Sports (NYSE:AS) had its price target raised by analysts at Robert W. Baird from $20.00 to $24.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 0.90% from the company’s current price.

Several other equities research analysts have also recently weighed in on AS. TD Cowen upped 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. Nomura Securities upgraded Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Evercore ISI reiterated an “outperform” rating and set a $21.00 price objective on shares of Amer Sports in a research report on Wednesday, August 21st. The Goldman Sachs Group increased their target price on Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, UBS Group increased their price target on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amer Sports currently has an average rating of “Moderate Buy” and an average price target of $21.43.

Amer Sports Stock Performance

NYSE:AS opened at $23.79 on Wednesday. The business’s 50-day moving average price is $17.72 and its two-hundred day moving average price is $14.85. Amer Sports has a twelve month low of $10.11 and a twelve month high of $23.99. The stock has a market cap of $12.02 billion and a P/E ratio of -164.43. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping 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 business had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, equities analysts predict that Amer Sports will post 0.44 EPS for the current fiscal year.

Institutional Trading of Amer Sports

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of Amer Sports in the 3rd quarter valued at about $167,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Amer Sports during the 3rd quarter worth about $337,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Amer Sports during the 3rd quarter worth about $467,000. XTX Topco Ltd acquired a new stake in shares of Amer Sports during the 3rd quarter worth about $609,000. Finally, Weiss Asset Management LP acquired a new stake in shares of Amer Sports in the third quarter worth approximately $1,761,000. Institutional investors and hedge funds own 40.25% of the company’s stock.

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.