TD Cowen Increases Amer Sports (NYSE:AS) Price Target to $23.00

Amer Sports (NYSE:AS) had its target price lifted by stock analysts at TD Cowen from $21.00 to $23.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential downside of 3.31% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Wells Fargo & Company lowered shares of Amer Sports from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $17.00 to $19.00 in a report on Monday, October 14th. Morgan Stanley upped their price objective 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. Citigroup boosted their price target on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, UBS Group increased their price target on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Four research 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.43.

Amer Sports Stock Up 13.5 %

Shares of NYSE AS opened at $23.79 on Wednesday. The stock has a fifty day moving average price of $17.72 and a 200 day moving average price of $14.85. 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 has a 12-month low of $10.11 and a 12-month high of $23.99. The company has a market cap of $12.02 billion and a P/E ratio of -164.43.

Amer Sports (NYSE:AS) last announced its earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.11. Amer Sports had a positive return on equity of 3.59% and a negative net margin of 0.74%. The business had revenue of $993.80 million for the quarter, compared to the consensus estimate of $947.59 million. The firm’s revenue was up 16.0% on a year-over-year basis. Research analysts anticipate that Amer Sports will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Amer Sports

Several large investors have recently added to or reduced their stakes in AS. Virtu Financial LLC acquired a new position in Amer Sports in the third quarter valued at approximately $167,000. Public Employees Retirement System of Ohio bought a new stake in shares of Amer Sports in the 3rd quarter worth approximately $337,000. Y Intercept Hong Kong Ltd acquired a new position in Amer Sports during the 3rd quarter valued at approximately $467,000. XTX Topco Ltd acquired a new stake in Amer Sports in the third quarter worth $609,000. Finally, Weiss Asset Management LP acquired a new stake in Amer Sports in the third quarter worth $1,761,000. 40.25% of the stock is currently owned by institutional investors.

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.