Amer Sports (NYSE:AS) PT Raised to $21.00 at TD Cowen

Amer Sports (NYSE:AS) had its price objective increased by stock analysts at TD Cowen from $17.00 to $21.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 12.78% from the company’s current price.

AS has been the topic of a number of other reports. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Evercore ISI reissued an “outperform” rating and issued a $21.00 price objective on shares of Amer Sports in a research note on Wednesday, August 21st. Wells Fargo & Company cut shares of Amer Sports from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $17.00 to $19.00 in a research note on Monday. Finally, UBS Group increased their price objective on shares of Amer Sports from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Four research 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, Amer Sports currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

Amer Sports Price Performance

Shares of AS opened at $18.62 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81. The company’s fifty day moving average is $14.84 and its two-hundred day moving average is $14.09. Amer Sports has a 1 year low of $10.11 and a 1 year high of $19.73.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, analysts forecast that Amer Sports will post 0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AS. Hood River Capital Management LLC purchased a new position in shares of Amer Sports during the 1st quarter worth about $47,778,000. Point72 Hong Kong Ltd raised its holdings in Amer Sports by 557.7% in the second quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock valued at $41,161,000 after buying an additional 2,776,619 shares during the period. 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 buying an additional 2,345,420 shares during the period. Capstone Investment Advisors LLC purchased a new position in Amer Sports in the first quarter valued at approximately $7,301,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Amer Sports in the first quarter valued at approximately $5,705,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

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.