Amer Sports (NYSE:AS) Reaches New 52-Week High – What’s Next?

Amer Sports, Inc. (NYSE:AS)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $25.15 and last traded at $25.05, with a volume of 93848 shares changing hands. The stock had previously closed at $24.30.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Amer Sports from $15.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Wells Fargo & Company boosted their price target on shares of Amer Sports from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Nomura Securities upgraded Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. UBS Group boosted their target price on Amer Sports from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Evercore ISI restated an “outperform” rating and set a $26.00 price target (up previously from $25.00) on shares of Amer Sports in a report on Wednesday, November 20th. 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 MarketBeat.com, Amer Sports currently has a consensus rating of “Moderate Buy” and an average price target of $21.43.

Amer Sports Stock Up 4.1 %

The company’s 50 day simple moving average is $18.10 and its 200-day simple moving average is $14.99. 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 Investors Weigh In On Amer Sports

A number of institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC purchased a new stake in Amer Sports in the 3rd quarter valued at about $49,000. Quarry LP purchased a new stake in shares of Amer Sports in the third quarter valued at approximately $61,000. CWM LLC bought a new position in Amer Sports in the third quarter worth approximately $73,000. Dnca Finance purchased a new position in Amer Sports during the 2nd quarter worth $81,000. Finally, Amalgamated Bank purchased a new position in Amer Sports during the 2nd quarter worth $83,000. 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.