Amer Sports (NYSE:AS) Stock Price Expected to Rise, Citigroup Analyst Says

Amer Sports (NYSE:AS) had its price objective hoisted by Citigroup from $19.00 to $24.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued research reports about the company. UBS Group raised their price objective on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Nomura Securities upgraded Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Wells Fargo & Company lowered Amer Sports from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $17.00 to $19.00 in a research note on Monday, October 14th. Evercore ISI reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of Amer Sports in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group lifted their target price on shares of Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amer Sports presently has an average rating of “Moderate Buy” and a consensus price target of $19.57.

Amer Sports Stock Performance

Shares of Amer Sports stock opened at $19.33 on Tuesday. Amer Sports has a 52 week low of $10.11 and a 52 week high of $20.68. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $17.23 and a two-hundred day moving average of $14.69.

Amer Sports (NYSE:AS) last released its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.11. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The business had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, equities research analysts forecast that Amer Sports will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Amer Sports

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC bought a new position in shares of Amer Sports during the third quarter valued at $49,000. Quarry LP purchased a new position in Amer Sports during the 3rd quarter valued at approximately $61,000. CWM LLC purchased a new position in Amer Sports in the third quarter worth about $73,000. Dnca Finance bought a new stake in shares of Amer Sports in the 2nd quarter worth about $81,000. Finally, Amalgamated Bank purchased a new stake in Amer Sports in the second quarter worth $83,000. 40.25% of the stock is currently 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.