Evercore ISI Reiterates “Outperform” Rating for Amer Sports (NYSE:AS)

Evercore ISI reissued their outperform rating on shares of Amer Sports (NYSE:AS) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $26.00 price target on the stock, up from their previous price target of $25.00.

Other analysts also recently issued reports about the stock. Morgan Stanley upped their target price on shares of Amer Sports from $15.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Wednesday. TD Cowen boosted their price target on Amer Sports from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. increased their target price on Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, UBS Group increased their price target on shares of Amer Sports from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday. Four 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.43.

Amer Sports Stock Up 2.6 %

NYSE AS opened at $24.30 on Wednesday. The stock has a market capitalization of $12.28 billion and a PE ratio of -173.56. Amer Sports has a 1 year low of $10.11 and a 1 year high of $24.60. The business’s 50-day moving average is $18.10 and its 200 day moving average is $14.98. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.81.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in shares of Amer Sports by 71.2% during the 3rd quarter. FMR LLC now owns 7,533,007 shares of the company’s stock worth $120,151,000 after purchasing an additional 3,133,312 shares in the last quarter. Hood River Capital Management LLC grew its position in Amer Sports by 32.9% in the second quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company’s stock valued at $48,983,000 after acquiring an additional 965,625 shares in the last quarter. Point72 Hong Kong Ltd increased its position in shares of Amer Sports by 557.7% during the second quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock worth $41,161,000 after acquiring an additional 2,776,619 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Amer Sports by 308.3% in the second quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock valued at $39,045,000 after acquiring an additional 2,345,420 shares in the last quarter. Finally, WCM Investment Management LLC lifted its holdings in Amer Sports by 29.9% during the 3rd quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company’s stock worth $21,787,000 after buying an additional 306,001 shares during the last quarter. Hedge funds and other 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.