Amer Sports (NYSE:AS) Price Target Raised to $21.00

Amer Sports (NYSE:AS) had its target price boosted by The Goldman Sachs Group from $19.00 to $21.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on the company. Wells Fargo & Company cut Amer Sports from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $17.00 to $19.00 in a report on Monday, October 14th. UBS Group increased their target price on shares of Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Evercore ISI reiterated an “outperform” rating and set a $21.00 price objective on shares of Amer Sports in a research report on Wednesday, August 21st. TD Cowen increased their price objective 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. Finally, Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

Amer Sports Trading Down 4.5 %

AS stock opened at $17.62 on Monday. Amer Sports has a 52 week low of $10.11 and a 52 week high of $19.73. The business has a 50-day simple moving average of $15.55 and a 200 day simple moving average of $14.19. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.11. The company had revenue of $993.80 million during the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The firm’s revenue was up 16.0% compared to the same quarter last year. Equities research analysts predict that Amer Sports will post 0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC bought a new position in shares of Amer Sports in the 3rd quarter worth about $49,000. Seven Grand Managers LLC grew its stake in Amer Sports by 566.7% during the third quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock worth $1,595,000 after purchasing an additional 85,000 shares during the period. Creative Planning bought a new stake in Amer Sports in the third quarter worth approximately $656,000. CWM LLC acquired a new position in Amer Sports in the third quarter valued at approximately $73,000. Finally, Artemis Investment Management LLP bought a new position in shares of Amer Sports during the 3rd quarter worth approximately $293,000. 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.