Amer Sports (NYSE:AS) Price Target Raised to $28.00

Amer Sports (NYSE:AS) had its price target boosted by Wells Fargo & Company from $25.00 to $28.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

AS has been the topic of several other reports. Sanford C. Bernstein initiated coverage on shares of Amer Sports in a report on Thursday, February 13th. They issued an “outperform” rating and a $38.00 price objective on the stock. Robert W. Baird upped their price objective on shares of Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, December 9th. JPMorgan Chase & Co. upped their price objective on shares of Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. HSBC downgraded shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Monday, December 16th. Finally, Evercore ISI upped their price objective on shares of Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Amer Sports Stock Up 4.7 %

NYSE:AS opened at $29.91 on Wednesday. The company has a market cap of $16.34 billion and a PE ratio of -213.63. Amer Sports has a twelve month low of $10.11 and a twelve month high of $34.00. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $30.11 and its two-hundred day moving average is $22.65.

Amer Sports (NYSE:AS) last released its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Analysts anticipate that Amer Sports will post 0.46 EPS for the current year.

Hedge Funds Weigh In On Amer Sports

A number of large investors have recently added to or reduced their stakes in AS. JPMorgan Chase & Co. acquired a new position in Amer Sports during the third quarter worth $25,000. West Branch Capital LLC raised its position in Amer Sports by 14,285.7% during the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock worth $28,000 after acquiring an additional 1,000 shares during the period. Kieckhefer Group LLC acquired a new position in Amer Sports during the fourth quarter worth $42,000. Signaturefd LLC purchased a new stake in shares of Amer Sports during the third quarter worth $49,000. Finally, GAMMA Investing LLC grew its holdings in shares of Amer Sports by 61.8% during the fourth quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock worth $54,000 after buying an additional 742 shares in the last quarter. 40.25% of the stock is currently 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.