Amer Sports (NYSE:AS) Trading Up 7.2% After Analyst Upgrade

Amer Sports, Inc. (NYSE:AS)’s share price rose 7.2% during mid-day trading on Thursday after UBS Group raised their price target on the stock from $24.00 to $27.00. UBS Group currently has a buy rating on the stock. Amer Sports traded as high as $22.56 and last traded at $22.47. Approximately 1,211,135 shares traded hands during trading, a decline of 30% from the average daily volume of 1,725,511 shares. The stock had previously closed at $20.96.

Several other research firms have also commented on AS. Citigroup increased their target price on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price objective on Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday. TD Cowen raised their target price on Amer Sports from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Evercore ISI restated an “outperform” rating and issued a $21.00 price target on shares of Amer Sports in a report on Wednesday, August 21st. 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 MarketBeat, Amer Sports presently has an average rating of “Moderate Buy” and an average target price of $21.43.

Hedge Funds Weigh In On Amer Sports

Several large investors have recently added to or reduced their stakes in the company. Sei Investments Co. acquired a new stake in Amer Sports during the first quarter worth about $968,000. Quadrature Capital Ltd bought a new stake in shares of Amer Sports in the 1st quarter worth approximately $390,000. Hood River Capital Management LLC acquired a new position in Amer Sports during the 1st quarter valued at approximately $47,778,000. Sandia Investment Management LP bought a new position in Amer Sports during the 1st quarter worth $425,000. Finally, Renaissance Capital LLC increased its position in Amer Sports by 50.7% in the second quarter. Renaissance Capital LLC now owns 108,826 shares of the company’s stock worth $1,368,000 after buying an additional 36,632 shares during the period. 40.25% of the stock is currently owned by institutional investors.

Amer Sports Price Performance

The company has a market capitalization of $12.02 billion and a P/E ratio of -164.43. 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 business has a 50 day simple moving average of $17.72 and a 200-day simple moving average of $14.85.

Amer Sports (NYSE:AS) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.11. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.59%. The firm had revenue of $993.80 million for the quarter, compared to the consensus estimate of $947.59 million. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. Analysts predict that Amer Sports, Inc. will post 0.44 EPS for the current fiscal year.

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.