Evercore ISI Reiterates Outperform Rating for Amer Sports (NYSE:AS)

Amer Sports (NYSE:AS)‘s stock had its “outperform” rating reaffirmed by investment analysts at Evercore ISI in a note issued to investors on Wednesday,Benzinga reports. They presently have a $26.00 target price on the stock, up from their prior target price of $25.00. Evercore ISI’s target price would indicate a potential upside of 9.30% from the company’s current price.

AS has been the subject of a number of other reports. Morgan Stanley lifted their price target on shares of Amer Sports from $15.00 to $19.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday. TD Cowen raised their price target on Amer Sports from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company increased their target price on Amer Sports from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, UBS Group lifted their target price on Amer Sports from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amer Sports has a consensus rating of “Moderate Buy” and an average price target of $21.43.

Amer Sports Trading Up 13.5 %

Shares of Amer Sports stock opened at $23.79 on Wednesday. The stock has a 50 day moving average of $17.72 and a 200 day moving average of $14.85. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87. The firm has a market capitalization of $12.02 billion and a price-to-earnings ratio of -164.43. Amer Sports has a fifty-two week low of $10.11 and a fifty-two week high of $23.99.

Amer Sports (NYSE:AS) last released its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The business had revenue of $993.80 million during the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports had a positive return on equity of 3.59% and a negative net margin of 0.74%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, research analysts predict that Amer Sports will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Amer Sports

Large investors have recently bought and sold shares of the business. Sei Investments Co. purchased a new stake in shares of Amer Sports during the 1st quarter worth approximately $968,000. Shellback Capital LP boosted its stake in Amer Sports by 5.0% in the second quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock valued at $6,599,000 after acquiring an additional 25,000 shares in the last quarter. Creative Planning purchased a new position in shares of Amer Sports during the third quarter worth about $656,000. Bank of New York Mellon Corp acquired a new stake in shares of Amer Sports during the second quarter worth about $3,164,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Amer Sports in the 1st quarter valued at about $390,000. 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.