Amer Sports (NYSE:AS) Price Target Raised to $24.00

Amer Sports (NYSE:AS) had its price objective hoisted by equities researchers at Citigroup from $19.00 to $24.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 20.54% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Evercore ISI restated an “outperform” rating and issued a $21.00 price objective on shares of Amer Sports in a research note on Wednesday, August 21st. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Wells Fargo & Company cut shares of Amer Sports from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $17.00 to $19.00 in a report on Monday, October 14th. UBS Group raised their price objective on shares of Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, TD Cowen raised their price objective on shares of Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.57.

Amer Sports Price Performance

Shares of AS traded down $0.67 during trading hours on Tuesday, hitting $19.91. The stock had a trading volume of 1,043,118 shares, compared to its average volume of 1,675,776. 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 has a 12 month low of $10.11 and a 12 month high of $20.68. The stock has a fifty day moving average price of $16.86 and a 200 day moving average price of $14.59.

Amer Sports (NYSE:AS) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.11. The company had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, analysts anticipate that Amer Sports will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On Amer Sports

A number of institutional investors have recently added to or reduced their stakes in AS. Signaturefd LLC acquired a new stake in shares of Amer Sports during the third quarter worth $49,000. CWM LLC bought a new stake in Amer Sports in the third quarter worth about $73,000. Dnca Finance purchased a new position in shares of Amer Sports in the second quarter worth about $81,000. Amalgamated Bank purchased a new position in Amer Sports during the second quarter valued at approximately $83,000. Finally, Artemis Investment Management LLP purchased a new position in Amer Sports in the 3rd quarter worth approximately $293,000. 40.25% of the stock is owned by 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.