Amer Sports (NYSE:AS) Price Target Increased to $21.00 by Analysts at The Goldman Sachs Group

Amer Sports (NYSE:AS) had its price target raised by The Goldman Sachs Group from $19.00 to $21.00 in a research report sent to investors on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Evercore ISI restated an “outperform” rating and issued a $21.00 target price on shares of Amer Sports in a research report on Wednesday, August 21st. Wells Fargo & Company cut Amer Sports from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $17.00 to $19.00 in a research note on Monday, October 14th. TD Cowen lifted their price target on Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. UBS Group upped their price objective on Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Nomura Securities upgraded Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.86.

Amer Sports Stock Performance

Shares of NYSE:AS opened at $17.89 on Monday. The business’s 50 day simple moving average is $15.67 and its 200 day simple moving average is $14.22. Amer Sports has a 1 year low of $10.11 and a 1 year high of $19.73. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81.

Amer Sports (NYSE:AS) last released its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.11. The company had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. Amer Sports’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, sell-side analysts anticipate that Amer Sports will post 0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

A number of institutional investors have recently added to or reduced their stakes in AS. Signaturefd LLC acquired a new position in shares of Amer Sports during the third quarter worth $49,000. CWM LLC bought a new position in Amer Sports during the 3rd quarter worth $73,000. Dnca Finance acquired a new position in Amer Sports during the 2nd quarter worth about $81,000. Amalgamated Bank bought a new stake in shares of Amer Sports in the 2nd quarter valued at about $83,000. Finally, Artemis Investment Management LLP acquired a new stake in shares of Amer Sports in the third quarter valued at about $293,000. 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.