Citigroup Forecasts Strong Price Appreciation for Amer Sports (NYSE:AS) Stock

Amer Sports (NYSE:AS) had its target price increased by investment analysts at Citigroup from $24.00 to $36.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 17.80% from the stock’s current price.

AS has been the topic of a number of other research reports. Evercore ISI raised their target price on shares of Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Nomura Securities raised Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. TD Cowen upped their price objective on Amer Sports from $23.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. raised their target price on Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company upped their price target on shares of Amer Sports from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amer Sports presently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Amer Sports Trading Up 2.8 %

Amer Sports stock opened at $30.56 on Wednesday. Amer Sports has a 1 year low of $10.11 and a 1 year high of $31.32. The firm’s 50-day moving average is $25.11 and its 200-day moving average is $17.95. 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 company has a market cap of $16.70 billion and a P/E ratio of -218.27.

Hedge Funds Weigh In On Amer Sports

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its holdings in shares of Amer Sports by 734.8% in the third quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock valued at $1,288,000 after buying an additional 71,086 shares during the period. Woodson Capital Management LP bought a new stake in Amer Sports in the third quarter worth about $12,907,000. Shellback Capital LP lifted its holdings in Amer Sports by 5.0% in the 2nd quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock valued at $6,599,000 after acquiring an additional 25,000 shares during the last quarter. XTX Topco Ltd acquired a new stake in Amer Sports in the 3rd quarter valued at about $609,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Amer Sports during the 3rd quarter valued at about $337,000. 40.25% of the stock is owned by 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.