Amer Sports (NYSE:AS) Shares Up 5% Following Analyst Upgrade

Amer Sports, Inc. (NYSE:AS)’s stock price shot up 5% during trading on Tuesday after UBS Group raised their price target on the stock from $27.00 to $37.00. UBS Group currently has a buy rating on the stock. Amer Sports traded as high as $29.13 and last traded at $29.03. 1,074,963 shares traded hands during trading, a decline of 44% from the average session volume of 1,911,675 shares. The stock had previously closed at $27.65.

A number of other analysts also recently commented on the company. Wells Fargo & Company boosted their target price on Amer Sports from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Morgan Stanley lifted their price target on Amer Sports from $15.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. HSBC cut shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Monday. TD Cowen upped their price target on shares of Amer Sports from $23.00 to $29.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Citigroup increased their price target on shares of Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Five equities 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 company. According to MarketBeat, Amer Sports currently has an average rating of “Moderate Buy” and a consensus target price of $24.79.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AS. BNP Paribas Financial Markets increased its position in Amer Sports by 734.8% during the third quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock worth $1,288,000 after purchasing an additional 71,086 shares during the last quarter. Woodson Capital Management LP acquired a new stake in shares of Amer Sports during the 3rd quarter worth $12,907,000. Shellback Capital LP increased its holdings in shares of Amer Sports by 5.0% during the 2nd quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock worth $6,599,000 after buying an additional 25,000 shares during the last quarter. XTX Topco Ltd acquired a new position in Amer Sports in the third quarter valued at $609,000. Finally, Creative Planning acquired a new position in Amer Sports in the third quarter valued at $656,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Amer Sports Stock Performance

The stock has a 50-day simple moving average of $21.76 and a 200-day simple moving average of $16.38. The stock has a market cap of $15.13 billion and a PE ratio of -197.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77.

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.