Wells Fargo & Company Issues Positive Forecast for Amer Sports (NYSE:AS) Stock Price

Amer Sports (NYSE:AS) had its target price upped by equities researchers at Wells Fargo & Company from $20.00 to $25.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 11.28% from the stock’s previous close.

AS has been the topic of a number of other reports. Nomura Securities raised Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Citigroup boosted their price objective on shares of Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. increased their target price on shares of Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. HSBC downgraded shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Monday, December 16th. Finally, Evercore ISI raised their price objective on Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Five equities 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.14.

Amer Sports Trading Up 2.5 %

NYSE AS opened at $28.18 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The stock’s 50-day simple moving average is $22.09 and its two-hundred day simple moving average is $16.56. Amer Sports has a twelve month low of $10.11 and a twelve month high of $29.43. The company has a market capitalization of $15.40 billion and a price-to-earnings ratio of -201.27.

Hedge Funds Weigh In On Amer Sports

Hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new stake in Amer Sports in the third quarter worth about $168,000. Virtu Financial LLC bought a new stake in shares of Amer Sports during the 3rd quarter valued at $167,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Amer Sports in the 3rd quarter worth about $337,000. Y Intercept Hong Kong Ltd bought a new position in shares of Amer Sports in the 3rd quarter worth about $467,000. Finally, XTX Topco Ltd purchased a new position in Amer Sports during the 3rd quarter valued at about $609,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

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.