Amer Sports (NYSE:AS) Cut to Hold at Hsbc Global Res

Amer Sports (NYSE:AS) was downgraded by equities research analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Evercore ISI lifted their target price on Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. 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. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. The Goldman Sachs Group boosted their price target on shares of Amer Sports from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Citigroup increased their price objective on shares of Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.07.

Amer Sports Price Performance

Shares of NYSE AS opened at $27.65 on Monday. Amer Sports has a 1-year low of $10.11 and a 1-year high of $28.00. The firm has a market capitalization of $15.11 billion and a PE ratio of -197.50. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The business’s fifty day moving average price is $21.18 and its two-hundred day moving average price is $16.12.

Hedge Funds Weigh In On Amer Sports

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC acquired a new position in Amer Sports in the third quarter worth approximately $49,000. Quarry LP bought a new stake in Amer Sports in the third quarter worth approximately $61,000. CWM LLC acquired a new position in shares of Amer Sports during the 3rd quarter worth $73,000. Amalgamated Bank bought a new position in shares of Amer Sports during the 2nd quarter valued at $83,000. Finally, Virtu Financial LLC acquired a new stake in shares of Amer Sports in the 3rd quarter valued at $167,000. 40.25% of the stock is owned by institutional investors and hedge funds.

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.