Amer Sports (NYSE:AS) Sets New 1-Year High After Analyst Upgrade

Amer Sports, Inc. (NYSE:AS) reached a new 52-week high during mid-day trading on Wednesday after Morgan Stanley raised their price target on the stock from $19.00 to $27.00. Morgan Stanley currently has an equal weight rating on the stock. Amer Sports traded as high as $31.60 and last traded at $30.85, with a volume of 251506 shares traded. The stock had previously closed at $31.06.

A number of other research firms have also recently issued reports on AS. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. UBS Group boosted their price objective on shares of Amer Sports from $27.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. boosted their price objective on shares of Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Hsbc Global Res cut shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, HSBC cut shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research report on Monday, December 16th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.07.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AS. JPMorgan Chase & Co. acquired a new position in shares of Amer Sports during the 3rd quarter valued at $25,000. West Branch Capital LLC lifted its holdings in shares of Amer Sports by 14,285.7% during the 4th quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock valued at $28,000 after acquiring an additional 1,000 shares in the last quarter. Kieckhefer Group LLC acquired a new position in shares of Amer Sports during the 4th quarter valued at $42,000. Signaturefd LLC acquired a new position in shares of Amer Sports during the 3rd quarter valued at $49,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Amer Sports by 61.8% during the 4th quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock valued at $54,000 after acquiring an additional 742 shares in the last quarter. 40.25% of the stock is owned by hedge funds and other institutional investors.

Amer Sports Price Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. The firm has a market cap of $16.81 billion and a price-to-earnings ratio of -219.76. The company’s fifty day moving average is $26.83 and its two-hundred day moving average is $18.97.

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.