Amer Sports (NYSE:AS) Price Target Raised to $19.00 at Morgan Stanley

Amer Sports (NYSE:AS) had its price objective raised by Morgan Stanley from $15.00 to $19.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also recently weighed in on AS. The Goldman Sachs Group boosted their price target on shares of Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Nomura Securities upgraded Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. UBS Group increased their price target on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Evercore ISI reissued an “outperform” rating and issued a $21.00 price objective on shares of Amer Sports in a research report on Wednesday, August 21st. Finally, Citigroup raised their target price on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.43.

Amer Sports Price Performance

AS opened at $24.30 on Wednesday. Amer Sports has a 1 year low of $10.11 and a 1 year high of $24.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.81. The company has a market capitalization of $12.28 billion and a price-to-earnings ratio of -173.56. The firm’s fifty day moving average price is $18.10 and its two-hundred day moving average price is $14.98.

Institutional Investors Weigh In On Amer Sports

Large investors have recently added to or reduced their stakes in the company. Signaturefd LLC purchased a new stake in Amer Sports during the third quarter valued at about $49,000. Quarry LP bought a new stake in shares of Amer Sports in the third quarter valued at approximately $61,000. CWM LLC purchased a new stake in shares of Amer Sports during the 3rd quarter valued at approximately $73,000. Dnca Finance purchased a new stake in shares of Amer Sports during the 2nd quarter valued at approximately $81,000. Finally, Amalgamated Bank bought a new position in Amer Sports in the 2nd quarter worth approximately $83,000. Hedge funds and other 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.