Amer Sports (NYSE:AS) Rating Increased to Strong-Buy at Zacks Research

Amer Sports (NYSE:AS) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research firms have also issued reports on AS. Truist Financial initiated coverage on Amer Sports in a research report on Monday, October 27th. They set a “buy” rating and a $42.00 price objective for the company. Bank of America raised their target price on Amer Sports from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Nomura set a $39.80 price target on shares of Amer Sports and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Wells Fargo & Company lifted their price objective on shares of Amer Sports from $40.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Morgan Stanley set a $41.00 target price on shares of Amer Sports and gave the company a “positive” rating in a research note on Monday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Amer Sports has a consensus rating of “Buy” and an average price target of $44.73.

Amer Sports Price Performance

Shares of NYSE:AS opened at $38.24 on Wednesday. The company has a market cap of $21.18 billion, a PE ratio of 69.53, a P/E/G ratio of 1.03 and a beta of 2.85. Amer Sports has a fifty-two week low of $20.21 and a fifty-two week high of $42.36. The firm has a 50-day simple moving average of $33.78 and a 200 day simple moving average of $36.14. The company has a quick ratio of 0.70, a current ratio of 1.51 and a debt-to-equity ratio of 0.24.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, November 18th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.08. Amer Sports had a net margin of 5.10% and a return on equity of 8.51%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company posted $0.14 earnings per share. Amer Sports’s revenue was up 29.7% on a year-over-year basis. Amer Sports has set its FY 2025 guidance at 0.880-0.920 EPS. On average, sell-side analysts anticipate that Amer Sports will post 0.46 EPS for the current year.

Hedge Funds Weigh In On Amer Sports

A number of institutional investors and hedge funds have recently bought and sold shares of AS. Polar Asset Management Partners Inc. bought a new stake in shares of Amer Sports during the 3rd quarter worth about $2,519,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Amer Sports by 484.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 848 shares of the company’s stock valued at $29,000 after acquiring an additional 703 shares during the period. Stance Capital LLC bought a new stake in Amer Sports during the third quarter worth approximately $1,284,000. Jacobs Levy Equity Management Inc. acquired a new stake in Amer Sports in the third quarter worth approximately $1,336,000. Finally, Armistice Capital LLC lifted its position in Amer Sports by 64.4% in the third quarter. Armistice Capital LLC now owns 166,602 shares of the company’s stock worth $5,789,000 after purchasing an additional 65,293 shares during the period. 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.