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

Amer Sports (NYSE:AS) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $33.00 to $34.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 9.70% from the company’s current price.

Other equities analysts have also issued reports about the company. Sanford C. Bernstein started coverage on Amer Sports in a research report on Thursday, February 13th. They set an “outperform” rating and a $38.00 price objective on the stock. Evercore ISI increased their price objective on Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Morgan Stanley increased their price objective on Amer Sports from $19.00 to $27.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Wells Fargo & Company increased their price objective on Amer Sports from $25.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, HSBC lowered Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.43.

Amer Sports Price Performance

Shares of NYSE:AS traded up $2.17 on Wednesday, hitting $31.00. The company’s stock had a trading volume of 1,500,306 shares, compared to its average volume of 2,965,231. The company has a 50-day simple moving average of $30.00 and a 200 day simple moving average of $22.42. Amer Sports has a 1 year low of $10.11 and a 1 year high of $34.00. The company has a market capitalization of $16.93 billion and a PE ratio of -221.38. 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 for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The business’s revenue was up 23.2% on a year-over-year basis. Sell-side analysts forecast that Amer Sports will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

A number of large investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in shares of Amer Sports by 61.8% in the 4th quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock worth $54,000 after buying an additional 742 shares during the last quarter. West Branch Capital LLC grew its position in shares of Amer Sports by 14,285.7% in the 4th quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock worth $28,000 after buying an additional 1,000 shares during the last quarter. Signaturefd LLC grew its position in shares of Amer Sports by 35.0% in the 4th quarter. Signaturefd LLC now owns 4,136 shares of the company’s stock worth $116,000 after buying an additional 1,073 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Amer Sports by 55.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,487 shares of the company’s stock worth $97,000 after buying an additional 1,250 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new stake in shares of Amer Sports in the 4th quarter worth approximately $42,000. 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.