Amer Sports (NYSE:AS) Price Target Raised to $23.00

Amer Sports (NYSE:AS) had its price target raised by TD Cowen from $21.00 to $23.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on AS. JPMorgan Chase & Co. upped their price target on shares of Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley boosted their price target on Amer Sports from $15.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Nomura Securities raised Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Evercore ISI reissued an “outperform” rating and set a $21.00 target price on shares of Amer Sports in a report on Wednesday, August 21st. Finally, Wells Fargo & Company downgraded Amer Sports from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $17.00 to $19.00 in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amer Sports presently has an average rating of “Moderate Buy” and a consensus price target of $21.43.

Amer Sports Price Performance

Shares of AS stock opened at $20.94 on Wednesday. The firm’s fifty day moving average price is $17.57 and its two-hundred day moving average price is $14.81. 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 has a 1 year low of $10.11 and a 1 year high of $21.69.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.11. The firm had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, analysts expect that Amer Sports will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Amer Sports

Large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC bought a new stake in shares of Amer Sports during the 3rd quarter valued at $49,000. Quarry LP acquired a new position in Amer Sports in the third quarter valued at about $61,000. CWM LLC bought a new stake in Amer Sports during the third quarter worth about $73,000. Dnca Finance acquired a new stake in Amer Sports during the second quarter worth about $81,000. Finally, Amalgamated Bank bought a new position in Amer Sports in the 2nd quarter valued at about $83,000. Institutional investors and hedge funds 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.