Amer Sports, Inc. (NYSE:AS) Receives $32.64 Average Price Target from Brokerages

Shares of Amer Sports, Inc. (NYSE:AS) have earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $32.64.

A number of equities analysts have weighed in on AS shares. The Goldman Sachs Group upped their target price on Amer Sports from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. HSBC downgraded shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Monday, December 16th. Sanford C. Bernstein assumed coverage on shares of Amer Sports in a research note on Thursday, February 13th. They issued an “outperform” rating and a $38.00 price target for the company. Robert W. Baird raised their price objective on shares of Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, UBS Group lifted their price objective on shares of Amer Sports from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th.

Amer Sports Price Performance

AS stock opened at $23.69 on Tuesday. The firm has a 50 day moving average of $29.19 and a 200-day moving average of $25.18. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $13.12 billion and a P/E ratio of -169.23. Amer Sports has a 12 month low of $10.11 and a 12 month high of $34.00.

Amer Sports (NYSE:AS) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. Amer Sports’s revenue was up 23.2% on a year-over-year basis. As a group, sell-side analysts predict that Amer Sports will post 0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its position 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 valued at $1,288,000 after acquiring an additional 71,086 shares during the period. XTX Topco Ltd purchased a new position in Amer Sports during the 3rd quarter valued at about $609,000. Public Employees Retirement System of Ohio bought a new position in Amer Sports during the 3rd quarter valued at approximately $337,000. Element Capital Management LLC purchased a new stake in Amer Sports in the 4th quarter worth approximately $357,000. Finally, State Street Corp grew its position 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 buying an additional 348,877 shares during the last quarter. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

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.