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

Amer Sports (NYSE:AS) had its target price increased by equities researchers at Wells Fargo & Company from $25.00 to $28.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential downside of 2.22% from the stock’s current price.

Several other analysts also recently issued reports on AS. Evercore ISI boosted their price target on Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Hsbc Global Res downgraded Amer Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. The Goldman Sachs Group upped their target price on Amer Sports from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Sanford C. Bernstein initiated coverage on Amer Sports in a research report on Thursday, February 13th. They set an “outperform” rating and a $38.00 target price for the company. Finally, HSBC downgraded Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Amer Sports Stock Performance

AS opened at $28.64 on Wednesday. The business has a fifty day simple moving average of $30.08 and a 200 day simple moving average of $22.52. The company has a market capitalization of $15.65 billion and a PE ratio of -204.52. Amer Sports has a 1 year low of $10.11 and a 1 year high of $34.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77.

Amer Sports (NYSE:AS) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The business 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 firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. Research analysts expect that Amer Sports will post 0.46 EPS for the current year.

Institutional Trading of Amer Sports

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its position in shares of 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 buying an additional 71,086 shares during the last quarter. Woodson Capital Management LP acquired a new position in Amer Sports in the 3rd quarter worth about $12,907,000. XTX Topco Ltd acquired a new position in Amer Sports in the 3rd quarter worth about $609,000. Public Employees Retirement System of Ohio acquired a new position in Amer Sports in the 3rd quarter worth about $337,000. Finally, State Street Corp increased its holdings in Amer Sports by 65.1% in 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. 40.25% of the stock is currently owned by institutional investors.

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.