Wells Fargo & Company Forecasts Strong Price Appreciation for Amer Sports (NYSE:AS) Stock

Amer Sports (NYSE:AS) had its price objective boosted by research analysts at Wells Fargo & Company from $20.00 to $25.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 11.28% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Hsbc Global Res cut shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Robert W. Baird boosted their target price on Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. TD Cowen increased their price target on Amer Sports from $23.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Evercore ISI lifted their price target on Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Finally, UBS Group upped their price objective on Amer Sports from $27.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.14.

Amer Sports Price Performance

Shares of NYSE:AS opened at $28.18 on Friday. Amer Sports has a 1-year low of $10.11 and a 1-year high of $29.43. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The stock has a market cap of $15.40 billion and a PE ratio of -201.27. The stock’s fifty day simple moving average is $22.09 and its two-hundred day simple moving average is $16.56.

Hedge Funds Weigh In On Amer Sports

A number of large investors have recently made changes to their positions in the stock. FMR LLC boosted its stake in Amer Sports by 71.2% in the 3rd 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 during the period. 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 valued at $48,983,000 after purchasing an additional 965,625 shares during the period. Point72 Hong Kong Ltd grew its position 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 purchasing an additional 2,776,619 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Amer Sports by 308.3% during the second quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock valued at $39,045,000 after buying an additional 2,345,420 shares during the period. Finally, WCM Investment Management LLC grew its position in Amer Sports by 29.9% during the third quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company’s stock worth $21,787,000 after buying an additional 306,001 shares in 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.