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

Amer Sports (NYSE:AS) had its target price lifted by UBS Group from $19.00 to $24.00 in a research report sent to investors on Tuesday, Benzinga reports. UBS Group currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. Evercore ISI reiterated an “outperform” rating and set a $21.00 price target on shares of Amer Sports in a research report on Wednesday, August 21st. Wells Fargo & Company downgraded shares of Amer Sports from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $17.00 to $19.00 in a report on Monday, October 14th. The Goldman Sachs Group raised their target price on shares of Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, TD Cowen raised their price objective on shares of Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.21.

Amer Sports Stock Performance

Amer Sports stock opened at $18.72 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87. Amer Sports has a one year low of $10.11 and a one year high of $19.73. The company has a 50-day simple moving average of $16.42 and a 200-day simple moving average of $14.44.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.11. The firm had revenue of $993.80 million during the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, sell-side analysts forecast that Amer Sports will post 0.44 EPS for the current year.

Hedge Funds Weigh In On Amer Sports

A number of institutional investors have recently bought and sold shares of AS. Tocqueville Asset Management L.P. acquired a new position in shares of Amer Sports in the first quarter worth about $813,000. Sei Investments Co. purchased a new position in Amer Sports during the 1st quarter worth approximately $968,000. Shellback Capital LP raised its stake in Amer Sports by 5.0% during the 2nd quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock valued at $6,599,000 after purchasing an additional 25,000 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Amer Sports in the second quarter valued at $3,164,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Amer Sports in the first quarter worth $390,000. 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.