The Goldman Sachs Group Forecasts Strong Price Appreciation for Amer Sports (NYSE:AS) Stock

Amer Sports (NYSE:AS) had its price objective increased by investment analysts at The Goldman Sachs Group from $28.00 to $31.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 1.44% from the company’s previous close.

A number of other equities analysts have also commented on AS. Evercore ISI boosted their price objective on Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. UBS Group upped their price target on shares of Amer Sports from $27.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. TD Cowen raised their price objective on shares of Amer Sports from $23.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Citigroup boosted their target price on shares of Amer Sports from $24.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird increased their price target on shares of Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amer Sports has a consensus rating of “Moderate Buy” and an average price target of $26.50.

Amer Sports Stock Up 2.8 %

Shares of AS opened at $30.56 on Wednesday. The company has a market capitalization of $16.70 billion and a P/E ratio of -218.27. Amer Sports has a one year low of $10.11 and a one year high of $31.32. The business’s 50 day simple moving average is $25.11 and its 200-day simple moving average is $17.95. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77.

Institutional Trading of Amer Sports

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

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.