Amer Sports (NYSE:AS) Stock Price Expected to Rise, Citigroup Analyst Says

Amer Sports (NYSE:AS) had its target price hoisted by research analysts at Citigroup from $19.00 to $24.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 21.83% from the company’s current price.

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

Amer Sports Trading Down 1.4 %

AS stock opened at $19.70 on Tuesday. The firm’s 50-day simple moving average is $16.99 and its 200 day simple moving average is $14.62. Amer Sports has a fifty-two week low of $10.11 and a fifty-two week high of $20.68. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58.

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

Institutional Investors Weigh In On Amer Sports

A number of hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC acquired a new position in Amer Sports in the third quarter valued at about $49,000. CWM LLC acquired a new stake in shares of Amer Sports in the 3rd quarter valued at approximately $73,000. Dnca Finance bought a new position in Amer Sports during the 2nd quarter worth approximately $81,000. Amalgamated Bank bought a new stake in Amer Sports in the second quarter valued at approximately $83,000. Finally, Sei Investments Co. increased its stake in Amer Sports by 23.1% in the second quarter. Sei Investments Co. now owns 73,141 shares of the company’s stock valued at $919,000 after purchasing an additional 13,748 shares in the last quarter. 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.