Amer Sports (NYSE:AS) Stock Price Up 7.2% After Analyst Upgrade

Shares of Amer Sports, Inc. (NYSE:AS) traded up 7.2% on Thursday after UBS Group raised their price target on the stock from $24.00 to $27.00. UBS Group currently has a buy rating on the stock. Amer Sports traded as high as $22.56 and last traded at $22.47. 1,211,135 shares changed hands during trading, a decline of 30% from the average session volume of 1,725,511 shares. The stock had previously closed at $20.96.

A number of other equities research analysts have also recently weighed in on the stock. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Evercore ISI reissued an “outperform” rating and set a $21.00 price objective on shares of Amer Sports in a research note on Wednesday, August 21st. Robert W. Baird increased their target price on shares of Amer Sports from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group lifted their price target on shares of Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, TD Cowen lifted their target price on Amer Sports from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amer Sports presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.43.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. acquired a new stake in Amer Sports during the 1st quarter worth approximately $968,000. Shellback Capital LP grew its holdings in shares of Amer Sports by 5.0% during the 2nd quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock worth $6,599,000 after purchasing an additional 25,000 shares in the last quarter. Creative Planning acquired a new position in shares of Amer Sports during the third quarter valued at $656,000. Bank of New York Mellon Corp bought a new position in shares of Amer Sports during the second quarter worth about $3,164,000. Finally, Quadrature Capital Ltd bought a new position in shares of Amer Sports during the 1st quarter worth approximately $390,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Amer Sports Price Performance

The company has a fifty day simple moving average of $17.72 and a two-hundred day simple moving average of $14.85. The stock has a market capitalization of $11.63 billion and a price-to-earnings ratio of -160.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87.

Amer Sports (NYSE:AS) last issued its quarterly earnings data 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 company had revenue of $993.80 million for the quarter, compared to the consensus estimate of $947.59 million. Amer Sports had a positive return on equity of 3.59% and a negative net margin of 0.74%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, equities research analysts expect that Amer Sports, Inc. will post 0.44 earnings per share for the current fiscal year.

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.