Amer Sports (NYSE:AS) Price Target Raised to $23.00

Amer Sports (NYSE:AS) had its target price boosted by TD Cowen from $21.00 to $23.00 in a research report report published on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other research analysts have also weighed in on AS. Robert W. Baird raised their target price on shares of Amer Sports from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday. Morgan Stanley raised their target price on shares of Amer Sports from $15.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company lowered shares of Amer Sports from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $17.00 to $19.00 in a research note on Monday, October 14th. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, 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 report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.43.

Amer Sports Price Performance

NYSE:AS opened at $24.30 on Wednesday. Amer Sports has a 52 week low of $10.11 and a 52 week high of $24.60. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $12.28 billion and a PE ratio of -169.91. The stock’s 50-day moving average price is $17.91 and its 200-day moving average price is $14.92.

Amer Sports (NYSE:AS) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports’s revenue was up 16.0% on a year-over-year basis. As a group, equities analysts expect that Amer Sports will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Amer Sports

A number of institutional investors and hedge funds have recently modified their holdings of AS. FMR LLC grew its stake 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 purchasing an additional 3,133,312 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in Amer Sports in the first quarter valued at $47,778,000. Point72 Hong Kong Ltd lifted its position in Amer Sports by 557.7% in the second 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. lifted its position in Amer Sports by 308.3% in the second quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock valued at $39,045,000 after acquiring an additional 2,345,420 shares during the last quarter. Finally, Woodson Capital Management LP purchased a new stake in Amer Sports in the third quarter valued at $12,907,000. 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.