The Goldman Sachs Group Issues Positive Forecast for Amer Sports (NYSE:AS) Stock Price

Amer Sports (NYSE:AS) had its price objective hoisted by The Goldman Sachs Group from $28.00 to $31.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently issued reports on AS. Nomura Securities upgraded Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Evercore ISI raised their price objective on shares of Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. UBS Group lifted their price target on shares of Amer Sports from $27.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Robert W. Baird lifted their target price on shares of Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Citigroup lifted their target price on shares of Amer Sports from $24.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday. Five investment 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. According to data from MarketBeat, Amer Sports currently has an average rating of “Moderate Buy” and an average target price of $26.50.

Amer Sports Stock Performance

NYSE AS opened at $30.56 on Wednesday. The stock has a market capitalization of $16.70 billion and a price-to-earnings ratio of -218.27. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $24.85 and its two-hundred day moving average is $17.86. Amer Sports has a 12-month low of $10.11 and a 12-month high of $31.32.

Hedge Funds Weigh In On Amer Sports

A number of hedge funds have recently added to or reduced their stakes in AS. JPMorgan Chase & Co. bought a new position in shares of Amer Sports in the 3rd quarter valued at about $25,000. Signaturefd LLC acquired a new stake in Amer Sports in the third quarter valued at approximately $49,000. GAMMA Investing LLC lifted its stake in shares of Amer Sports by 61.8% during the fourth quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock worth $54,000 after buying an additional 742 shares during the period. Quarry LP acquired a new position in Amer Sports during the third quarter valued at $61,000. Finally, CWM LLC acquired a new position in Amer Sports during the third quarter valued at $73,000. 40.25% of the stock is currently owned by hedge funds and other 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.