TD Cowen Forecasts Strong Price Appreciation for Amer Sports (NYSE:AS) Stock

Amer Sports (NYSE:AS) had its price objective raised by TD Cowen from $21.00 to $23.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

AS has been the topic of several other research reports. The Goldman Sachs Group upped their target price on Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Robert W. Baird boosted their price target on Amer Sports from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup boosted their target price 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. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $21.00 price target on shares of Amer Sports in a research report on Wednesday, August 21st. Four 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.43.

Amer Sports Trading Up 2.6 %

Shares of NYSE:AS opened at $24.30 on Wednesday. The company’s 50-day moving average price is $18.10 and its two-hundred day moving average price is $14.98. Amer Sports has a one year low of $10.11 and a one year high of $24.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.81. The stock has a market capitalization of $12.28 billion and a PE ratio of -173.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AS. FMR LLC lifted its position in Amer Sports by 71.2% during the third quarter. FMR LLC now owns 7,533,007 shares of the company’s stock worth $120,151,000 after acquiring an additional 3,133,312 shares during the last quarter. Hood River Capital Management LLC increased its stake in shares of Amer Sports by 32.9% during the second quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company’s stock worth $48,983,000 after purchasing an additional 965,625 shares during the period. Point72 Hong Kong Ltd lifted its holdings in Amer Sports by 557.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock worth $41,161,000 after purchasing an additional 2,776,619 shares during the last quarter. Point72 Asset Management L.P. boosted its stake 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 valued at $39,045,000 after purchasing an additional 2,345,420 shares during the period. Finally, WCM Investment Management LLC grew its holdings in Amer Sports by 29.9% in the 3rd quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company’s stock valued at $21,787,000 after buying an additional 306,001 shares in the last quarter. 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.