Amer Sports (NYSE:AS) Stock Rating Reaffirmed by Evercore ISI

Amer Sports (NYSE:AS)‘s stock had its “outperform” rating reiterated by stock analysts at Evercore ISI in a research report issued on Wednesday, Benzinga reports. They currently have a $21.00 price objective on the stock. Evercore ISI’s target price suggests a potential upside of 51.73% from the stock’s previous close.

A number of other brokerages have also recently issued reports on AS. UBS Group boosted their price objective on Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley reduced their price objective on Amer Sports from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Thursday, May 23rd. Finally, Wells Fargo & Company reduced their price objective on Amer Sports from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.50.

Amer Sports Trading Down 2.2 %

Shares of Amer Sports stock opened at $13.84 on Wednesday. Amer Sports has a 12 month low of $10.11 and a 12 month high of $18.23. The company has a quick ratio of 0.97, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $12.17 and its 200 day simple moving average is $14.13.

Amer Sports (NYSE:AS) last released its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The firm had revenue of $993.80 million for the quarter, compared to the consensus estimate of $947.59 million. The company’s revenue was up 16.0% on a year-over-year basis. As a group, equities research analysts expect that Amer Sports will post 0.4 earnings per share for the current fiscal year.

Institutional Trading of Amer Sports

Hedge funds have recently made changes to their positions in the stock. Dnca Finance bought a new stake in shares of Amer Sports during the 2nd quarter worth $81,000. Amalgamated Bank bought a new stake in Amer Sports in the second quarter worth $83,000. Summit Securities Group LLC bought a new stake in Amer Sports in the second quarter worth $297,000. SYSTM Wealth Solutions LLC bought a new stake in Amer Sports in the first quarter worth $319,000. Finally, Quadrature Capital Ltd bought a new stake in Amer Sports in the first quarter worth $390,000. 40.25% of the stock is owned by institutional investors.

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.