Amer Sports (NYSE:AS) PT Lowered to $17.00

Amer Sports (NYSE:AS) had its target price decreased by research analysts at Wells Fargo & Company from $19.00 to $17.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 13.03% from the stock’s previous close.

Several other brokerages have also recently issued reports on AS. TD Cowen initiated coverage on Amer Sports in a research report on Monday, February 26th. They issued an “outperform” rating and a $18.00 target price on the stock. UBS Group started coverage on shares of Amer Sports in a research report on Monday, February 26th. They set a “buy” rating and a $23.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Amer Sports in a report on Monday, February 26th. They set an “overweight” rating and a $19.00 target price for the company. Sanford C. Bernstein reiterated a “market perform” rating and set a $16.00 price target (down previously from $18.50) on shares of Amer Sports in a research note on Monday, April 8th. Finally, Citigroup initiated coverage on Amer Sports in a research note on Monday, February 26th. They issued a “buy” rating and a $19.00 price objective for the company. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.86.

Amer Sports Price Performance

AS opened at $15.04 on Thursday. Amer Sports has a twelve month low of $13.10 and a twelve month high of $18.23. The company has a debt-to-equity ratio of 477.02, a current ratio of 1.49 and a quick ratio of 0.80. The firm’s 50 day moving average is $15.36.

Amer Sports (NYSE:AS) last announced its earnings results on Tuesday, March 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. Equities research analysts anticipate that Amer Sports will post 0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Amer Sports stock. SYSTM Wealth Solutions LLC purchased a new position in Amer Sports, Inc. (NYSE:AS) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,591 shares of the company’s stock, valued at approximately $319,000. 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.