Amer Sports (NYSE:AS) Cut to “Equal Weight” at Wells Fargo & Company

Amer Sports (NYSE:AS) was downgraded by Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Monday, MarketBeat.com reports. They presently have a $19.00 target price on the stock, up from their prior target price of $17.00. Wells Fargo & Company‘s target price would indicate a potential upside of 5.38% from the stock’s current price.

A number of other equities research analysts have also recently commented on AS. Evercore ISI reaffirmed an “outperform” rating and issued a $21.00 price target on shares of Amer Sports in a report on Wednesday, August 21st. Nomura Securities raised Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, UBS Group lifted their price objective on Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amer Sports has a consensus rating of “Moderate Buy” and a consensus price target of $18.86.

Amer Sports Trading Down 6.7 %

AS stock opened at $18.03 on Monday. 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 stock’s fifty day simple moving average is $14.70 and its two-hundred day simple moving average is $14.06. Amer Sports has a 1-year low of $10.11 and a 1-year high of $19.73.

Amer Sports (NYSE:AS) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The business had revenue of $993.80 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. On average, equities analysts expect that Amer Sports will post 0.43 EPS for the current year.

Institutional Investors Weigh In On Amer Sports

Several large investors have recently added to or reduced their stakes in the business. Tocqueville Asset Management L.P. purchased a new position in Amer Sports in the 1st quarter worth approximately $813,000. Sei Investments Co. bought a new position in Amer Sports in the first quarter valued at $968,000. Capstone Investment Advisors LLC purchased a new stake in Amer Sports during the first quarter valued at about $7,301,000. Shellback Capital LP raised its position in Amer Sports by 5.0% during the second quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock valued at $6,599,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Amer Sports during the first quarter worth about $390,000. Institutional investors own 40.25% of the company’s stock.

Amer Sports Company Profile

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.