Amer Sports (NYSE:AS) Price Target Raised to $20.00

Amer Sports (NYSE:AS) had its price objective hoisted by Wells Fargo & Company from $19.00 to $20.00 in a research report report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts also recently issued reports about the stock. TD Cowen lifted their price target on shares of Amer Sports from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on shares of Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, October 21st. UBS Group lifted their price target on shares of Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Robert W. Baird boosted their target price on shares of Amer Sports from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.43.

Amer Sports Price Performance

AS stock opened at $24.30 on Wednesday. The firm has a market cap of $12.28 billion and a price-to-earnings ratio of -169.91. 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 has a 12-month low of $10.11 and a 12-month high of $24.60. The company’s fifty day simple moving average is $17.91 and its 200 day simple moving average is $14.92.

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

Institutional Trading of Amer Sports

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC purchased a new stake in shares of Amer Sports during the 3rd quarter valued at $49,000. Quarry LP purchased a new stake in shares of Amer Sports during the 3rd quarter valued at $61,000. CWM LLC purchased a new stake in shares of Amer Sports during the 3rd quarter valued at $73,000. Dnca Finance purchased a new stake in shares of Amer Sports during the 2nd quarter valued at $81,000. Finally, Amalgamated Bank purchased a new stake in shares of Amer Sports during the 2nd quarter valued at $83,000. Hedge funds and other institutional investors 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.