Amer Sports (NYSE:AS) Hits New 52-Week High After Analyst Upgrade

Amer Sports, Inc. (NYSE:AS) shares reached a new 52-week high during trading on Thursday after Evercore ISI raised their price target on the stock from $26.00 to $30.00. Evercore ISI currently has an outperform rating on the stock. Amer Sports traded as high as $27.28 and last traded at $27.07, with a volume of 865696 shares changing hands. The stock had previously closed at $25.76.

Other analysts also recently issued reports about the stock. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. UBS Group lifted their price target on Amer Sports from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group upped their price objective on Amer Sports from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup raised their price objective on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird upped their target price on Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amer Sports presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.07.

Institutional Investors Weigh In On Amer Sports

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AS. Signaturefd LLC purchased a new position in shares of Amer Sports during the third quarter valued at approximately $49,000. Quarry LP bought a new stake in Amer Sports in the third quarter valued at $61,000. CWM LLC purchased a new position in Amer Sports during the 3rd quarter valued at $73,000. Amalgamated Bank bought a new position in Amer Sports in the 2nd quarter worth $83,000. Finally, Virtu Financial LLC purchased a new stake in shares of Amer Sports in the 3rd quarter worth about $167,000. 40.25% of the stock is currently owned by institutional investors.

Amer Sports Price Performance

The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average price is $20.97 and its two-hundred day moving average price is $16.02. The stock has a market cap of $15.10 billion and a P/E ratio of -197.49.

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.