Amer Sports (NYSE:AS) Downgraded by HSBC to Hold

HSBC cut shares of Amer Sports (NYSE:ASFree Report) from a buy rating to a hold rating in a report issued on Monday, MarketBeat reports. HSBC currently has $30.00 price target on the stock.

Other equities research analysts also recently issued reports about the company. TD Cowen increased their price objective on Amer Sports from $23.00 to $29.00 and gave the company a “buy” rating in a report on Monday, December 9th. UBS Group increased their price target on shares of Amer Sports from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group raised their price objective on shares of Amer Sports from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. upped their target price on shares of Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Finally, Robert W. Baird raised their price target on Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Four research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.07.

Get Our Latest Analysis on AS

Amer Sports Stock Performance

Shares of Amer Sports stock opened at $27.65 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. Amer Sports has a 52 week low of $10.11 and a 52 week high of $28.00. The firm’s 50 day moving average is $21.18 and its two-hundred day moving average is $16.12. The firm has a market capitalization of $15.11 billion and a P/E ratio of -197.50.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. FMR LLC lifted 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. Point72 Hong Kong Ltd raised its holdings in shares of Amer Sports by 557.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock valued at $41,161,000 after buying an additional 2,776,619 shares during the period. Point72 Asset Management L.P. lifted its position in Amer Sports by 308.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock worth $39,045,000 after acquiring an additional 2,345,420 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in Amer Sports by 32.9% in the 2nd quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company’s stock worth $48,983,000 after acquiring an additional 965,625 shares during the period. Finally, Woodson Capital Management LP purchased a new position in Amer Sports in the 3rd quarter worth approximately $12,907,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Amer Sports Company Profile

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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.

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Analyst Recommendations for Amer Sports (NYSE:AS)

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