Amer Sports (NYSE:AS) Price Target Raised to $44.00

Amer Sports (NYSE:AS) had its target price boosted by The Goldman Sachs Group from $28.00 to $44.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on AS. Citigroup decreased their price objective on shares of Amer Sports from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. boosted their price objective on shares of Amer Sports from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Morgan Stanley boosted their price target on shares of Amer Sports from $28.00 to $33.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of Amer Sports from $25.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, TD Securities boosted their price target on shares of Amer Sports from $30.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.67.

Amer Sports Price Performance

AS stock opened at $36.82 on Wednesday. The firm’s 50-day moving average price is $26.26 and its two-hundred day moving average price is $27.08. Amer Sports has a 12-month low of $10.11 and a 12-month high of $38.42. The stock has a market capitalization of $20.39 billion, a price-to-earnings ratio of -262.97, a PEG ratio of 0.72 and a beta of 2.76. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last released its quarterly earnings data on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the company earned $0.08 earnings per share. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, equities analysts predict that Amer Sports will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On Amer Sports

A number of hedge funds and other institutional investors have recently bought and sold shares of AS. JPMorgan Chase & Co. purchased a new stake in Amer Sports in the third quarter worth about $25,000. West Branch Capital LLC lifted its stake in shares of Amer Sports by 14,285.7% in the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock worth $28,000 after buying an additional 1,000 shares in the last quarter. Quarry LP bought a new position in shares of Amer Sports in the first quarter worth approximately $34,000. Colonial Trust Advisors bought a new position in shares of Amer Sports in the first quarter worth approximately $93,000. Finally, Sterling Capital Management LLC lifted its stake in shares of Amer Sports by 55.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,487 shares of the company’s stock worth $97,000 after buying an additional 1,250 shares in the last quarter. Hedge funds and other institutional investors 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.