Amer Sports (NYSE:AS) Coverage Initiated at Sanford C. Bernstein

Sanford C. Bernstein started coverage on shares of Amer Sports (NYSE:AS) in a research report issued on Thursday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $38.00 price target on the stock. Sanford C. Bernstein’s price target indicates a potential upside of 25.99% from the company’s current price.

Several other research firms have also recently weighed in on AS. TD Cowen increased their price objective on shares of Amer Sports from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their target price on Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Evercore ISI lifted 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. Robert W. Baird boosted their price target on Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group raised their price objective 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. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Amer Sports presently has an average rating of “Moderate Buy” and an average price target of $28.64.

Amer Sports Stock Performance

NYSE AS opened at $30.16 on Thursday. The company has a market capitalization of $16.48 billion and a price-to-earnings ratio of -215.41. Amer Sports has a twelve month low of $10.11 and a twelve month high of $34.00. The stock has a fifty day simple moving average of $29.27 and a 200 day simple moving average of $21.10. 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

Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in shares of Amer Sports by 734.8% in the third quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock worth $1,288,000 after purchasing an additional 71,086 shares during the last quarter. Woodson Capital Management LP bought a new stake in Amer Sports during the third quarter worth $12,907,000. XTX Topco Ltd purchased a new stake in Amer Sports in the 3rd quarter valued at $609,000. Public Employees Retirement System of Ohio bought a new position in Amer Sports during the 3rd quarter valued at $337,000. Finally, State Street Corp grew its stake in shares of Amer Sports by 65.1% in the 3rd quarter. State Street Corp now owns 884,526 shares of the company’s stock worth $14,108,000 after acquiring an additional 348,877 shares in the last quarter. 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.