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

Investment analysts at Sanford C. Bernstein assumed coverage on shares of Amer Sports (NYSE:AS) in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $38.00 price target on the stock. Sanford C. Bernstein’s target price would suggest a potential upside of 25.99% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. HSBC lowered shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Monday, December 16th. Hsbc Global Res downgraded Amer Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Morgan Stanley lifted their price objective on Amer Sports from $19.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Wells Fargo & Company upped their price objective on shares of Amer Sports from $20.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Finally, The Goldman Sachs Group lifted their target price on shares of Amer Sports from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $28.64.

Amer Sports Price Performance

AS opened at $30.16 on Thursday. Amer Sports has a fifty-two week low of $10.11 and a fifty-two week high of $34.00. The firm has a 50-day moving average of $29.27 and a 200 day moving average of $21.10. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. The firm has a market cap of $16.48 billion and a P/E ratio of -215.41.

Hedge Funds Weigh In On Amer Sports

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its stake in Amer Sports by 71.2% in the third quarter. FMR LLC now owns 7,533,007 shares of the company’s stock worth $120,151,000 after purchasing an additional 3,133,312 shares during the last quarter. WT Asset Management Ltd increased its holdings in shares of Amer Sports by 188.2% in the fourth quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company’s stock worth $100,834,000 after buying an additional 2,355,182 shares during the period. Trivest Advisors Ltd bought a new stake in shares of Amer Sports in the 4th quarter valued at about $39,913,000. Arrowstreet Capital Limited Partnership purchased a new stake in Amer Sports during the 4th quarter valued at about $37,518,000. Finally, Woodson Capital Management LP bought a new position in Amer Sports during the 3rd quarter worth approximately $12,907,000. 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.