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

Amer Sports (NYSE:AS) had its target price upped by Morgan Stanley from $19.00 to $27.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential downside of 11.33% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. HSBC cut shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report on Monday, December 16th. Evercore ISI upped their target price on Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Wells Fargo & Company raised their price target on Amer Sports from $20.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. The Goldman Sachs Group upped their price target on shares of Amer Sports from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Five investment 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.07.

Amer Sports Stock Up 2.3 %

Shares of AS stock traded up $0.69 during trading on Tuesday, reaching $30.45. The company’s stock had a trading volume of 867,536 shares, compared to its average volume of 2,716,908. Amer Sports has a one year low of $10.11 and a one year high of $31.32. The business has a fifty day moving average price of $26.61 and a 200-day moving average price of $18.84. The company has a market cap of $16.64 billion and a price-to-earnings ratio of -217.38. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

Hedge Funds Weigh In On Amer Sports

A number of large investors have recently made changes to their positions in AS. FMR LLC boosted its stake in Amer Sports by 71.2% in the 3rd quarter. FMR LLC now owns 7,533,007 shares of the company’s stock valued at $120,151,000 after purchasing an additional 3,133,312 shares during the period. Point72 Hong Kong Ltd increased its position in Amer Sports by 557.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock worth $41,161,000 after buying an additional 2,776,619 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Amer Sports by 308.3% during the second quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock worth $39,045,000 after buying an additional 2,345,420 shares in the last quarter. WCM Investment Management LLC boosted its position in shares of Amer Sports by 29.9% in the third quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company’s stock valued at $21,787,000 after acquiring an additional 306,001 shares during the period. Finally, WT Asset Management Ltd grew its stake in shares of Amer Sports by 104.4% in the third quarter. WT Asset Management Ltd now owns 1,251,181 shares of the company’s stock valued at $19,956,000 after acquiring an additional 638,939 shares in the last quarter. Institutional investors own 40.25% of the company’s stock.

About Amer Sports

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.