Amer Sports (NYSE:AS) Price Target Raised to $34.00

Amer Sports (NYSE:AS) had its price target lifted by JPMorgan Chase & Co. from $33.00 to $34.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.70% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Morgan Stanley upped their price objective on Amer Sports from $19.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company upped their price objective on Amer Sports from $25.00 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday. The Goldman Sachs Group upped their price objective on Amer Sports from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Robert W. Baird upped their price objective on Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Evercore ISI upped their price target on Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.43.

Amer Sports Stock Up 7.5 %

Amer Sports stock traded up $2.17 during trading on Wednesday, hitting $31.00. 1,500,306 shares of the company were exchanged, compared to its average volume of 2,965,231. The business’s 50 day moving average is $30.00 and its 200 day moving average is $22.42. Amer Sports has a 52 week low of $10.11 and a 52 week high of $34.00. The company has a market capitalization of $16.93 billion and a P/E ratio of -221.38. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.60 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Analysts predict that Amer Sports will post 0.46 earnings per share for the current year.

Institutional Trading of Amer Sports

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its holdings in Amer Sports by 734.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock worth $1,288,000 after purchasing an additional 71,086 shares in the last quarter. Woodson Capital Management LP purchased a new stake in Amer Sports during the 3rd quarter worth about $12,907,000. XTX Topco Ltd purchased a new stake in Amer Sports during the 3rd quarter worth about $609,000. Public Employees Retirement System of Ohio purchased a new stake in Amer Sports during the 3rd quarter worth about $337,000. Finally, State Street Corp lifted its holdings in Amer Sports by 65.1% during the 3rd quarter. State Street Corp now owns 884,526 shares of the company’s stock worth $14,108,000 after purchasing an additional 348,877 shares in the last quarter. Hedge funds and other institutional investors 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.