Amer Sports (NYSE:AS) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Amer Sports (NYSE:AS) had its target price raised by equities researchers at Morgan Stanley from $19.00 to $27.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential downside of 12.25% from the company’s previous close.

AS has been the subject of several other research reports. Wells Fargo & Company boosted their price target on shares of Amer Sports from $20.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. JPMorgan Chase & Co. increased their target price on Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. TD Cowen lifted their price target on Amer Sports from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Hsbc Global Res downgraded Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Finally, Evercore ISI raised their target price on Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $27.07.

Amer Sports Price Performance

Shares of AS opened at $30.77 on Tuesday. The company has a market cap of $16.81 billion and a P/E ratio of -219.76. Amer Sports has a fifty-two week low of $10.11 and a fifty-two week high of $31.60. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average price is $26.83 and its 200 day moving average price is $18.97.

Institutional Investors Weigh In On Amer Sports

A number of institutional investors and hedge funds have recently modified their holdings of AS. FMR LLC raised its position in 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 acquiring an additional 3,133,312 shares during the last quarter. Point72 Hong Kong Ltd grew its holdings 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 buying an additional 2,776,619 shares during the last quarter. Point72 Asset Management L.P. increased its position 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 in the last quarter. WCM Investment Management LLC raised its holdings in shares of Amer Sports by 29.9% in the third quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company’s stock worth $21,787,000 after acquiring an additional 306,001 shares during the last quarter. Finally, WT Asset Management Ltd lifted its position in shares of Amer Sports by 104.4% in the third quarter. WT Asset Management Ltd now owns 1,251,181 shares of the company’s stock valued at $19,956,000 after acquiring an additional 638,939 shares in the last quarter. Institutional investors and hedge funds own 40.25% of the company’s stock.

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.