Amer Sports (NYSE:AS) Price Target Raised to $27.00

Amer Sports (NYSE:AS) had its price objective hoisted by UBS Group from $24.00 to $27.00 in a report issued on Wednesday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on AS. Wells Fargo & Company raised their price target on shares of Amer Sports from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. TD Cowen lifted their target price on shares of Amer Sports from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group lifted their target price on shares of Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Morgan Stanley lifted 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 note on Wednesday. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.43.

Amer Sports Stock Up 2.6 %

NYSE:AS opened at $24.30 on Wednesday. Amer Sports has a fifty-two week low of $10.11 and a fifty-two week high of $24.60. The stock has a market capitalization of $12.28 billion and a P/E ratio of -169.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87. The company’s 50-day simple moving average is $17.91 and its 200-day simple moving average is $14.92.

Amer Sports (NYSE:AS) last released its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities analysts anticipate that Amer Sports will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amer Sports

A number of institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in shares of Amer Sports during the 3rd quarter valued at approximately $167,000. Public Employees Retirement System of Ohio purchased a new position in shares of Amer Sports during the 3rd quarter valued at approximately $337,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Amer Sports during the 3rd quarter valued at approximately $467,000. XTX Topco Ltd purchased a new position in shares of Amer Sports during the 3rd quarter valued at approximately $609,000. Finally, Weiss Asset Management LP purchased a new position in shares of Amer Sports during the 3rd quarter valued at approximately $1,761,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

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.