Amer Sports (NYSE:AS) Price Target Raised to $24.00

Amer Sports (NYSE:AS) had its price target lifted by UBS Group from $19.00 to $24.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company lowered Amer Sports from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $17.00 to $19.00 in a report on Monday, October 14th. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. TD Cowen raised their target price on shares of Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Evercore ISI reissued an “outperform” rating and set a $21.00 target price on shares of Amer Sports in a research report on Wednesday, August 21st. Finally, The Goldman Sachs Group raised their price target on Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.21.

Amer Sports Stock Performance

Shares of NYSE AS opened at $18.72 on Tuesday. The business has a 50 day simple moving average of $16.42 and a 200 day simple moving average of $14.44. Amer Sports has a 52 week low of $10.11 and a 52 week 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 announced its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 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 net margin of 2.79% and a negative return on equity of 0.63%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, sell-side analysts forecast that Amer Sports will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of Amer Sports

Institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. acquired a new stake in shares of Amer Sports during the 1st quarter valued at about $968,000. Value Star Asset Management Hong Kong Ltd bought a new position in Amer Sports during the first quarter worth about $2,061,000. Tocqueville Asset Management L.P. acquired a new stake in Amer Sports during the first quarter valued at approximately $813,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Amer Sports in the 1st quarter valued at approximately $5,705,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Amer Sports in the 1st quarter worth approximately $390,000. 40.25% of the stock is currently 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.