UBS Group Forecasts Strong Price Appreciation for Amer Sports (NYSE:AS) Stock

Amer Sports (NYSE:AS) had its target price hoisted by UBS Group from $24.00 to $27.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on AS. Morgan Stanley lifted their price target on shares of Amer Sports from $15.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Citigroup lifted their target price on shares of Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI reaffirmed an “outperform” rating and set a $21.00 target price on shares of Amer Sports in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company lifted their target price on shares of Amer Sports from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.43.

Amer Sports Price Performance

Amer Sports stock opened at $24.30 on Wednesday. The company’s fifty day moving average price is $17.91 and its 200 day moving average price is $14.92. Amer Sports has a 1 year low of $10.11 and a 1 year high of $24.60. The stock has a market capitalization of $12.28 billion and a P/E ratio of -169.91. 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 (NYSE:AS) last released its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.59%. The firm had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Amer Sports will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. purchased a new stake in Amer Sports in the 1st quarter valued at about $968,000. Quadrature Capital Ltd purchased a new stake in Amer Sports in the 1st quarter valued at about $390,000. Hood River Capital Management LLC purchased a new stake in Amer Sports in the 1st quarter valued at about $47,778,000. Sandia Investment Management LP purchased a new stake in Amer Sports in the 1st quarter valued at about $425,000. Finally, Renaissance Capital LLC raised its holdings in Amer Sports by 50.7% in the 2nd quarter. Renaissance Capital LLC now owns 108,826 shares of the company’s stock valued at $1,368,000 after buying an additional 36,632 shares during the period. Institutional investors and hedge funds 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.