Evercore ISI Raises Amer Sports (NYSE:AS) Price Target to $30.00

Amer Sports (NYSE:AS) had its price target lifted by research analysts at Evercore ISI from $26.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 8.52% from the company’s previous close.

Several other research firms have also recently issued reports on AS. UBS Group boosted their target price on Amer Sports from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Robert W. Baird upped their price objective on shares of Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. 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 report on Wednesday, November 20th. Wells Fargo & Company increased their price target on shares of Amer Sports from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Finally, Citigroup lifted their price objective on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.07.

Amer Sports Stock Up 2.8 %

Shares of NYSE:AS opened at $27.65 on Thursday. The stock’s 50-day moving average is $20.97 and its 200 day moving average is $16.02. The company has a market cap of $15.10 billion and a PE ratio of -197.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. Amer Sports has a 1 year low of $10.11 and a 1 year high of $27.79.

Hedge Funds Weigh In On Amer Sports

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in Amer Sports in the 2nd quarter worth approximately $3,164,000. Summit Securities Group LLC bought a new position in shares of Amer Sports during the second quarter valued at $297,000. Sabal Trust CO bought a new position in shares of Amer Sports during the second quarter valued at $881,000. Rhumbline Advisers bought a new stake in Amer Sports in the 2nd quarter worth about $1,142,000. Finally, Amalgamated Bank purchased a new position in Amer Sports in the 2nd quarter worth about $83,000. Hedge funds and other 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.