Amer Sports (NYSE:AS) Price Target Raised to $28.00 at The Goldman Sachs Group

Amer Sports (NYSE:AS) had its target price hoisted by The Goldman Sachs Group from $24.00 to $28.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on AS. Morgan Stanley upped their price target on Amer Sports from $15.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Wells Fargo & Company upped their target price on shares of Amer Sports from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. UBS Group lifted their price target on shares of Amer Sports from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Evercore ISI restated an “outperform” rating and issued a $26.00 target price (up previously from $25.00) on shares of Amer Sports in a report on Wednesday, November 20th. Four 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 company. According to MarketBeat.com, Amer Sports currently has an average rating of “Moderate Buy” and an average target price of $23.07.

Amer Sports Stock Performance

AS stock opened at $26.88 on Tuesday. The stock’s 50 day simple moving average is $20.97 and its 200 day simple moving average is $16.02. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. Amer Sports has a 12-month low of $10.11 and a 12-month high of $27.65. The stock has a market capitalization of $14.69 billion and a PE ratio of -192.00.

Hedge Funds Weigh In On Amer Sports

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC increased its position in Amer Sports by 71.2% in the third quarter. FMR LLC now owns 7,533,007 shares of the company’s stock worth $120,151,000 after buying an additional 3,133,312 shares in the last quarter. Point72 Hong Kong Ltd grew its stake in shares of Amer Sports by 557.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock valued at $41,161,000 after acquiring an additional 2,776,619 shares during the period. Point72 Asset Management L.P. increased its holdings in Amer Sports by 308.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock worth $39,045,000 after acquiring an additional 2,345,420 shares in the last quarter. Hood River Capital Management LLC raised its stake in Amer Sports by 32.9% during the 2nd quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company’s stock worth $48,983,000 after acquiring an additional 965,625 shares during the period. Finally, Woodson Capital Management LP purchased a new position in Amer Sports during the third quarter valued at approximately $12,907,000. 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.