Amer Sports (NYSE:AS) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Amer Sports (NYSE:AS) had its price target raised by equities researchers at Wells Fargo & Company from $19.00 to $20.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential downside of 15.92% from the company’s current price.

AS has been the topic of several other reports. Robert W. Baird upped their price objective on shares of Amer Sports from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Cowen upped their target price on shares of Amer Sports from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday. Nomura Securities upgraded Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Citigroup upped their price objective on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $21.00 price target on shares of Amer Sports in a research report on Wednesday, August 21st. Four equities research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.43.

Amer Sports Stock Performance

Shares of AS opened at $23.79 on Wednesday. The company’s fifty day moving average price is $17.72 and its 200 day moving average price is $14.85. Amer Sports has a one year low of $10.11 and a one year high of $23.99. The company has a market capitalization of $12.02 billion and a PE ratio of -164.43. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81.

Amer Sports (NYSE:AS) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.11. The company had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. Amer Sports had a positive return on equity of 3.59% and a negative net margin of 0.74%. The company’s revenue was up 16.0% compared to the same quarter last year. As a group, analysts expect that Amer Sports will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On Amer Sports

Institutional investors have recently made changes to their positions in the business. FMR LLC boosted its stake in shares of Amer Sports by 71.2% during the third quarter. FMR LLC now owns 7,533,007 shares of the company’s stock valued at $120,151,000 after purchasing an additional 3,133,312 shares during the period. Hood River Capital Management LLC increased its position in shares of Amer Sports by 32.9% during the second quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company’s stock valued at $48,983,000 after buying an additional 965,625 shares during the period. Point72 Hong Kong Ltd raised its position in shares of Amer Sports by 557.7% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock worth $41,161,000 after acquiring an additional 2,776,619 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Amer Sports by 308.3% during the second quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock valued at $39,045,000 after buying an additional 2,345,420 shares during the period. Finally, WCM Investment Management LLC boosted its stake in Amer Sports by 29.9% during the third quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company’s stock worth $21,787,000 after acquiring an additional 306,001 shares in the last quarter. 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.