Amer Sports (NYSE:AS) Upgraded to Strong-Buy at Nomura Securities

Nomura Securities upgraded shares of Amer Sports (NYSE:AS) to a strong-buy rating in a report published on Tuesday, Zacks.com reports.

Several other equities analysts have also weighed in on the company. Evercore ISI reissued an outperform rating and set a $21.00 price objective on shares of Amer Sports in a report on Wednesday, August 21st. UBS Group increased their price target on Amer Sports from $17.00 to $19.00 and gave the stock a buy rating in a research note on Wednesday, August 21st. Three equities research 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 stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $18.50.

Amer Sports Price Performance

NYSE AS opened at $15.88 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81. The business has a fifty day simple moving average of $12.85 and a 200 day simple moving average of $13.91. Amer Sports has a 12 month low of $10.11 and a 12 month high of $18.23.

Amer Sports (NYSE:AS) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.11. The firm had revenue of $993.80 million during the quarter, compared to analyst estimates of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities research analysts expect that Amer Sports will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amer Sports

A number of hedge funds and other institutional investors have recently modified their holdings of AS. SYSTM Wealth Solutions LLC purchased a new stake in shares of Amer Sports in the 1st quarter valued at $319,000. China Universal Asset Management Co. Ltd. bought a new stake in Amer Sports in the first quarter worth $1,521,000. Capstone Investment Advisors LLC purchased a new stake in Amer Sports during the first quarter valued at about $7,301,000. Sei Investments Co. bought a new position in shares of Amer Sports during the first quarter valued at about $968,000. Finally, Value Star Asset Management Hong Kong Ltd purchased a new position in shares of Amer Sports in the first quarter worth about $2,061,000. 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.