Amer Sports (NYSE:AS) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Amer Sports (NYSE:AS) had its target price boosted by stock analysts at Wells Fargo & Company from $25.00 to $28.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 2.22% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird lifted their price objective on Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Citigroup lifted their price objective on Amer Sports from $24.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley lifted their price objective on Amer Sports from $19.00 to $27.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. TD Cowen lifted their price objective on Amer Sports from $29.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, UBS Group lifted their price objective on Amer Sports from $27.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Amer Sports Price Performance

Shares of AS opened at $28.64 on Wednesday. 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 has a 1 year low of $10.11 and a 1 year high of $34.00. The stock has a market cap of $15.65 billion and a P/E ratio of -204.52. The stock’s 50-day moving average price is $30.08 and its two-hundred day moving average price is $22.52.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.60 billion. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities analysts predict that Amer Sports will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AS. Creative Planning acquired a new position in shares of Amer Sports during the 3rd quarter worth approximately $656,000. Signaturefd LLC acquired a new position in shares of Amer Sports during the 3rd quarter worth approximately $49,000. WT Asset Management Ltd increased its position in shares of Amer Sports by 104.4% during the 3rd quarter. WT Asset Management Ltd now owns 1,251,181 shares of the company’s stock worth $19,956,000 after purchasing an additional 638,939 shares during the last quarter. WCM Investment Management LLC increased its position in shares of Amer Sports by 29.9% during the 3rd quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company’s stock worth $21,787,000 after purchasing an additional 306,001 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Amer Sports during the 3rd quarter worth approximately $2,097,000. Institutional investors and hedge funds 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.