Amer Sports (NYSE:AS) Price Target Raised to $41.00 at TD Securities

Amer Sports (NYSE:AS) had its price objective lifted by TD Securities from $30.00 to $41.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on the company. Citigroup decreased their price target on Amer Sports from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Wells Fargo & Company raised their price target on Amer Sports from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. raised their price target on Amer Sports from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. UBS Group raised their price target on Amer Sports from $37.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Finally, Morgan Stanley raised their price target on Amer Sports from $19.00 to $27.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Amer Sports Stock Performance

Shares of AS opened at $36.82 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $26.26 and a two-hundred day simple moving average of $27.08. The stock has a market cap of $20.39 billion, a price-to-earnings ratio of -262.97, a PEG ratio of 0.72 and a beta of 2.76. Amer Sports has a 52 week low of $10.11 and a 52 week high of $38.42.

Amer Sports (NYSE:AS) last issued its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.08 earnings per share. On average, analysts expect that Amer Sports will post 0.46 EPS for the current year.

Institutional Investors Weigh In On Amer Sports

Several large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in shares of Amer Sports by 44.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,173,674 shares of the company’s stock worth $31,372,000 after purchasing an additional 358,536 shares during the last quarter. Temasek Holdings Private Ltd bought a new stake in shares of Amer Sports in the first quarter worth about $10,081,000. Tiger Pacific Capital LP bought a new stake in shares of Amer Sports in the first quarter worth about $8,316,000. Samlyn Capital LLC increased its holdings in shares of Amer Sports by 10.8% in the first quarter. Samlyn Capital LLC now owns 1,634,448 shares of the company’s stock worth $43,689,000 after purchasing an additional 159,848 shares during the last quarter. Finally, Petrus Trust Company LTA bought a new stake in Amer Sports during the first quarter worth approximately $361,000. 40.25% of the stock is owned by institutional investors.

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.