Sanford C. Bernstein Initiates Coverage on Amer Sports (NYSE:AS)

Investment analysts at Sanford C. Bernstein initiated coverage on shares of Amer Sports (NYSE:AS) in a report released on Thursday, MarketBeat reports. The firm set an “outperform” rating and a $38.00 price target on the stock. Sanford C. Bernstein’s price target would suggest a potential upside of 22.60% from the stock’s current price.

A number of other analysts have also recently issued reports on AS. Citigroup raised their target price on shares of Amer Sports from $24.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on shares of Amer Sports from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Robert W. Baird lifted their price objective on shares of Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. UBS Group lifted their price objective on shares of Amer Sports from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, HSBC cut shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.64.

Amer Sports Stock Performance

NYSE AS opened at $31.00 on Thursday. The firm has a 50-day moving average of $29.48 and a 200-day moving average of $21.23. 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 stock has a market cap of $16.93 billion and a PE ratio of -221.38. Amer Sports has a 52-week low of $10.11 and a 52-week high of $34.00.

Institutional Investors Weigh In On Amer Sports

Several hedge funds and other institutional investors have recently made changes to their positions in AS. JPMorgan Chase & Co. bought a new stake in shares of Amer Sports during the 3rd quarter valued at approximately $25,000. West Branch Capital LLC grew 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 purchasing an additional 1,000 shares during the last quarter. Kieckhefer Group LLC bought a new stake in shares of Amer Sports during the 4th quarter valued at approximately $42,000. Signaturefd LLC bought a new stake in shares of Amer Sports during the 3rd quarter valued at approximately $49,000. Finally, GAMMA Investing LLC grew 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 purchasing an additional 742 shares during the last quarter. 40.25% of the stock is owned by institutional investors.

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.