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

Amer Sports (NYSE:AS) had its price target raised by Citigroup from $19.00 to $24.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also commented on the company. UBS Group raised their price objective on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. The Goldman Sachs Group upped their price target on shares of Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Wells Fargo & Company lowered Amer Sports from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $17.00 to $19.00 in a report on Monday, October 14th. Finally, 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. Four equities research 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 stock. According to MarketBeat.com, Amer Sports currently has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Amer Sports Trading Down 3.0 %

Shares of AS opened at $19.33 on Tuesday. The firm has a 50-day moving average price of $17.23 and a 200 day moving average price of $14.69. Amer Sports has a 12-month low of $10.11 and a 12-month high of $20.68. 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 posted its earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The business had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, sell-side analysts expect that Amer Sports will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of Amer Sports

Institutional investors have recently made changes to their positions in the company. Tocqueville Asset Management L.P. acquired a new stake in Amer Sports during the 1st quarter worth approximately $813,000. Sei Investments Co. purchased a new position in shares of Amer Sports during the first quarter worth approximately $968,000. Shellback Capital LP raised its holdings in shares of Amer Sports by 5.0% in the second quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock valued at $6,599,000 after buying an additional 25,000 shares during the last quarter. Creative Planning purchased a new stake in Amer Sports during the 3rd quarter valued at approximately $656,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Amer Sports during the second quarter worth $3,164,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

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.