Amer Sports (NYSE:AS) Trading 7.2% Higher Following Analyst Upgrade

Amer Sports, Inc. (NYSE:AS)’s stock price rose 7.2% during mid-day trading on Thursday after UBS Group raised their price target on the stock from $24.00 to $27.00. UBS Group currently has a buy rating on the stock. Amer Sports traded as high as $22.56 and last traded at $22.47. Approximately 1,211,135 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 1,725,511 shares. The stock had previously closed at $20.96.

AS has been the topic of several other research reports. Evercore ISI restated an “outperform” rating and set a $21.00 price objective on shares of Amer Sports in a research note on Wednesday, August 21st. TD Cowen raised their price target on Amer Sports from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company lifted their price objective on Amer Sports from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday. Nomura Securities raised Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Morgan Stanley raised their price objective on Amer Sports from $15.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday. Four investment 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.43.

Institutional Inflows and Outflows

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

Amer Sports Stock Performance

The company has a market cap of $11.63 billion and a PE ratio of -160.50. The stock’s 50-day simple moving average is $17.72 and its 200 day simple moving average is $14.85. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87.

Amer Sports (NYSE:AS) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.11. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.59%. The firm had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities analysts anticipate that Amer Sports, Inc. will post 0.44 EPS for the current year.

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.