Amer Sports (NYSE:AS) Price Target Raised to $42.00

Amer Sports (NYSE:AS) had its target price boosted by equities research analysts at UBS Group from $37.00 to $42.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 39.30% from the company’s current price.

Other equities analysts also recently issued reports about the company. TD Cowen raised their price target on Amer Sports from $29.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Wells Fargo & Company upped their target price on shares of Amer Sports from $25.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday. The Goldman Sachs Group lifted their target price on Amer Sports from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Hsbc Global Res lowered shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, Evercore ISI lifted their price target on Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.79.

Amer Sports Stock Up 4.6 %

Shares of AS stock traded up $1.32 during trading hours on Wednesday, reaching $30.15. The company had a trading volume of 2,996,153 shares, compared to its average volume of 3,004,313. The company has a market cap of $16.47 billion and a price-to-earnings ratio of -215.41. 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 has a fifty day simple moving average of $30.00 and a 200-day simple moving average of $22.42. Amer Sports has a 12 month low of $10.11 and a 12 month high of $34.00.

Amer Sports (NYSE:AS) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.60 billion. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, research analysts expect that Amer Sports will post 0.46 earnings per share for the current fiscal year.

Institutional Trading of Amer Sports

A number of institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp purchased a new position in Amer Sports in the fourth quarter valued at about $819,000. Voloridge Investment Management LLC purchased a new position in Amer Sports in the 4th quarter valued at approximately $18,641,000. Woodline Partners LP acquired a new position in Amer Sports during the fourth quarter worth $14,135,000. Woodson Capital Management LP boosted its position in Amer Sports by 29.8% during the fourth quarter. Woodson Capital Management LP now owns 1,050,000 shares of the company’s stock worth $29,358,000 after purchasing an additional 240,800 shares in the last quarter. Finally, Vident Advisory LLC acquired a new stake in Amer Sports in the fourth quarter valued at $19,791,000. Hedge funds and other 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.