Amer Sports (NYSE:AS) Given New $31.00 Price Target at The Goldman Sachs Group

Amer Sports (NYSE:AS) had its target price hoisted by investment analysts at The Goldman Sachs Group from $28.00 to $31.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 4.38% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Nomura Securities raised Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. UBS Group increased their price objective on shares of Amer Sports from $27.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Wells Fargo & Company boosted their target price on shares of Amer Sports from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Morgan Stanley increased their price target on shares of Amer Sports from $15.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Five 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. According to data from MarketBeat, Amer Sports presently has a consensus rating of “Moderate Buy” and an average target price of $26.21.

Amer Sports Stock Down 0.5 %

Shares of AS opened at $29.70 on Wednesday. Amer Sports has a 12 month low of $10.11 and a 12 month high of $31.32. The stock has a market cap of $16.23 billion and a price-to-earnings ratio of -212.13. The company has a 50-day moving average price of $24.59 and a two-hundred day moving average price of $17.77. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of Amer Sports by 71.2% in the third quarter. FMR LLC now owns 7,533,007 shares of the company’s stock valued at $120,151,000 after purchasing an additional 3,133,312 shares in the last quarter. Point72 Hong Kong Ltd lifted its stake in Amer Sports by 557.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock valued at $41,161,000 after acquiring an additional 2,776,619 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Amer Sports by 308.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock valued at $39,045,000 after acquiring an additional 2,345,420 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in Amer Sports by 32.9% during the 2nd quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company’s stock worth $48,983,000 after acquiring an additional 965,625 shares during the last quarter. Finally, Woodson Capital Management LP bought a new stake in shares of Amer Sports in the 3rd quarter worth $12,907,000. 40.25% of the stock is currently owned by institutional investors and hedge funds.

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.