UBS Group Forecasts Strong Price Appreciation for Amer Sports (NYSE:AS) Stock

Amer Sports (NYSE:AS) had its price target increased by UBS Group from $24.00 to $27.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also issued reports on AS. Morgan Stanley increased their target price on Amer Sports from $15.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company upped their target price on shares of Amer Sports from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday. TD Cowen boosted their price objective on Amer Sports from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird lifted their target price on Amer Sports from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.43.

Amer Sports Stock Performance

Shares of Amer Sports stock opened at $20.94 on Wednesday. Amer Sports has a twelve month low of $10.11 and a twelve month high of $21.69. The business’s fifty day moving average price is $17.57 and its 200 day moving average price is $14.81. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business had revenue of $993.80 million for the quarter, compared to the consensus estimate of $947.59 million. The business’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities analysts expect that Amer Sports will post 0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

Several hedge funds have recently made changes to their positions in AS. Signaturefd LLC acquired a new position in Amer Sports in the 3rd quarter valued at approximately $49,000. Quarry LP acquired a new stake in shares of Amer Sports in the third quarter worth about $61,000. CWM LLC bought a new stake in Amer Sports during the third quarter worth approximately $73,000. Dnca Finance bought a new stake in shares of Amer Sports during the 2nd quarter worth $81,000. Finally, Amalgamated Bank acquired a new stake in shares of Amer Sports in the second quarter valued at about $83,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

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.