Amer Sports (NYSE:AS) Upgraded to “Strong-Buy” at Nomura Securities

Nomura Securities upgraded shares of Amer Sports (NYSE:AS) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on AS. Truist Financial began coverage on shares of Amer Sports in a research note on Monday, October 27th. They set a “buy” rating and a $42.00 price objective for the company. HSBC set a $50.00 price target on Amer Sports and gave the stock a “buy” rating in a report on Tuesday, August 26th. Wells Fargo & Company increased their price objective on Amer Sports from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, September 22nd. Nomura set a $39.80 target price on shares of Amer Sports and gave the company a “buy” rating in a research note on Tuesday. Finally, Bank of America upped their target price on shares of Amer Sports from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.06.

Amer Sports Price Performance

Shares of AS stock traded up $0.69 during midday trading on Tuesday, reaching $35.45. 595,002 shares of the company traded hands, compared to its average volume of 4,361,766. The firm’s 50 day simple moving average is $32.99 and its two-hundred day simple moving average is $35.50. The firm has a market cap of $19.63 billion, a PE ratio of 64.49, a price-to-earnings-growth ratio of 0.99 and a beta of 2.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.60 and a quick ratio of 0.61. Amer Sports has a 1-year low of $20.21 and a 1-year high of $42.36.

Amer Sports (NYSE:AS) last released its quarterly earnings data on Tuesday, November 18th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.25 by $0.08. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.73 billion. Amer Sports had a net margin of 5.10% and a return on equity of 8.68%. The business’s revenue for the quarter was up 29.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 EPS. Amer Sports has set its FY 2025 guidance at 0.880-0.920 EPS. On average, equities research analysts expect that Amer Sports will post 0.46 EPS for the current fiscal year.

Institutional Trading of Amer Sports

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AS. Aspex Management HK Ltd acquired a new stake in shares of Amer Sports in the third quarter worth approximately $206,244,000. Scopus Asset Management L.P. purchased a new position in Amer Sports during the second quarter worth approximately $108,562,000. Viking Global Investors LP boosted its holdings in shares of Amer Sports by 63.5% in the 3rd quarter. Viking Global Investors LP now owns 6,343,481 shares of the company’s stock valued at $220,436,000 after purchasing an additional 2,462,832 shares during the last quarter. WT Asset Management Ltd boosted its holdings in shares of Amer Sports by 221.5% in the 3rd quarter. WT Asset Management Ltd now owns 3,499,062 shares of the company’s stock valued at $121,592,000 after purchasing an additional 2,410,861 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Amer Sports by 139.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 3,887,480 shares of the company’s stock valued at $150,679,000 after buying an additional 2,267,066 shares during the period. 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.