Amer Sports (NYSE:AS) Downgraded to Equal Weight at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Amer Sports (NYSE:AS) from an overweight rating to an equal weight rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The brokerage currently has $19.00 target price on the stock, up from their previous target price of $17.00.

Several other research firms have also commented on AS. UBS Group boosted their price target on Amer Sports from $17.00 to $19.00 and gave the stock a buy rating in a research report on Wednesday, August 21st. Nomura Securities upgraded shares of Amer Sports to a strong-buy rating in a research note on Tuesday, September 24th. Finally, Evercore ISI reissued an outperform rating and set a $21.00 price objective on shares of Amer Sports in a report on Wednesday, August 21st. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $18.64.

Amer Sports Stock Down 1.1 %

AS opened at $19.34 on Monday. Amer Sports has a 52-week low of $10.11 and a 52-week high of $19.73. The company has a 50 day moving average of $14.55 and a two-hundred day moving average of $14.05. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

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

Institutional Investors Weigh In On Amer Sports

Several large investors have recently added to or reduced their stakes in AS. CWM LLC bought a new stake in shares of Amer Sports during the third quarter valued at approximately $73,000. Dnca Finance bought a new stake in Amer Sports during the 2nd quarter valued at $81,000. Amalgamated Bank acquired a new position in Amer Sports during the 2nd quarter worth $83,000. Artemis Investment Management LLP bought a new position in shares of Amer Sports in the third quarter worth $293,000. Finally, Summit Securities Group LLC acquired a new position in shares of Amer Sports during the second quarter valued at $297,000. 40.25% of the stock is owned by institutional investors and hedge funds.

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.