Amer Sports (NYSE:AS) Price Target Raised to $24.00

Amer Sports (NYSE:AS) had its target price boosted by Robert W. Baird from $20.00 to $24.00 in a research report report published on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on the stock. The Goldman Sachs Group upped their target price on shares of Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, October 21st. TD Cowen raised their target price on shares of Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company lowered shares of Amer Sports from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $17.00 to $19.00 in a report on Monday, October 14th. Evercore ISI reiterated an “outperform” rating and set a $21.00 target price on shares of Amer Sports in a research note on Wednesday, August 21st. Finally, Nomura Securities upgraded Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Four 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.43.

Amer Sports Stock Performance

Shares of NYSE:AS opened at $24.30 on Wednesday. The business’s 50 day moving average price is $18.10 and its 200-day moving average price is $14.98. Amer Sports has a 1 year low of $10.11 and a 1 year high of $24.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.81. The firm has a market capitalization of $12.28 billion and a PE ratio of -173.56.

Hedge Funds Weigh In On Amer Sports

Several hedge funds have recently bought and sold shares of the stock. FMR LLC raised its holdings in Amer Sports by 71.2% in the 3rd quarter. FMR LLC now owns 7,533,007 shares of the company’s stock valued at $120,151,000 after acquiring an additional 3,133,312 shares during the last quarter. Hood River Capital Management LLC purchased a new position in shares of Amer Sports during the 1st quarter worth about $47,778,000. Point72 Hong Kong Ltd boosted its position in shares of Amer Sports by 557.7% in the second 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 during the last quarter. Point72 Asset Management L.P. grew its holdings in Amer Sports by 308.3% in 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 purchasing an additional 2,345,420 shares during the period. Finally, Woodson Capital Management LP acquired a new position in Amer Sports during the third quarter worth approximately $12,907,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

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.