Amer Sports (NYSE:AS) Price Target Increased to $21.00 by Analysts at The Goldman Sachs Group

Amer Sports (NYSE:AS) had its target price upped by analysts at The Goldman Sachs Group from $19.00 to $21.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 13.82% from the stock’s previous close.

A number of other research analysts have also commented on the stock. TD Cowen raised their price objective on shares of Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. UBS Group increased their price target on Amer Sports from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Company lowered shares of Amer Sports from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $17.00 to $19.00 in a research note on Monday, October 14th. Evercore ISI reissued an “outperform” rating and issued a $21.00 target price on shares of Amer Sports in a research report on Wednesday, August 21st. Finally, Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Four equities research 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.86.

Amer Sports Stock Performance

Shares of NYSE:AS opened at $18.45 on Monday. The firm’s 50 day moving average is $15.42 and its two-hundred day moving average is $14.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87. Amer Sports has a 52 week low of $10.11 and a 52 week high of $19.73.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Capstone Investment Advisors LLC acquired a new stake in shares of Amer Sports in the first quarter valued at about $7,301,000. Sei Investments Co. acquired a new stake in shares of Amer Sports in the first quarter worth $968,000. Value Star Asset Management Hong Kong Ltd bought a new position in Amer Sports during the first quarter worth $2,061,000. Tocqueville Asset Management L.P. bought a new stake in Amer Sports in the 1st quarter valued at $813,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Amer Sports in the 1st quarter worth $5,705,000. 40.25% of the stock is owned by 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.