Amer Sports (NYSE:AS) Stock Price Expected to Rise, TD Cowen Analyst Says

Amer Sports (NYSE:AS) had its price target increased by investment analysts at TD Cowen from $29.00 to $33.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 7.98% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company increased their price target on Amer Sports from $20.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Robert W. Baird raised their price target on shares of Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Evercore ISI boosted their price target on shares of Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Five research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.50.

Amer Sports Stock Performance

Shares of Amer Sports stock opened at $30.56 on Wednesday. The stock has a market cap of $16.70 billion and a price-to-earnings ratio of -218.27. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. Amer Sports has a twelve month low of $10.11 and a twelve month high of $31.32. The company’s fifty day moving average is $25.11 and its 200 day moving average is $17.95.

Institutional Investors Weigh In On Amer Sports

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Amer Sports by 71.2% during the third 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. Point72 Hong Kong Ltd increased its stake in 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. raised its holdings 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 worth $39,045,000 after buying an additional 2,345,420 shares during the last quarter. Hood River Capital Management LLC raised its holdings in Amer Sports by 32.9% during the second quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company’s stock worth $48,983,000 after buying an additional 965,625 shares during the last quarter. Finally, Woodson Capital Management LP bought a new position in shares of Amer Sports in the third quarter valued at $12,907,000. Institutional investors and hedge funds own 40.25% of the company’s stock.

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.