HSBC Downgrades Amer Sports (NYSE:AS) to Hold

Amer Sports (NYSE:AS) was downgraded by stock analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Marketbeat reports. They currently have a $30.00 price target on the stock. HSBC’s target price would indicate a potential upside of 4.38% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Citigroup raised their price target on shares of Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird raised their target price on Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Nomura Securities upgraded Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Morgan Stanley increased their price objective on Amer Sports from $15.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group lifted their price objective on Amer Sports from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.79.

Amer Sports Trading Up 3.9 %

Shares of Amer Sports stock opened at $28.74 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. Amer Sports has a 1 year low of $10.11 and a 1 year high of $29.43. The firm has a market cap of $15.70 billion and a PE ratio of -208.21. The company has a 50 day simple moving average of $21.39 and a two-hundred day simple moving average of $16.21.

Institutional Investors Weigh In On Amer Sports

A number of institutional investors have recently modified their holdings of AS. BNP Paribas Financial Markets lifted its position in shares of Amer Sports by 734.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock worth $1,288,000 after purchasing an additional 71,086 shares during the last quarter. Woodson Capital Management LP purchased a new position in shares of Amer Sports in the 3rd quarter valued at about $12,907,000. Shellback Capital LP increased its holdings in shares of Amer Sports by 5.0% in the 2nd quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock valued at $6,599,000 after acquiring an additional 25,000 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Amer Sports during the 3rd quarter worth about $609,000. Finally, Creative Planning purchased a new stake in Amer Sports during the third quarter worth approximately $656,000. 40.25% of the stock is owned by institutional investors and hedge funds.

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.