Amer Sports (NYSE:AS) Reaches New 12-Month High After Analyst Upgrade

Shares of Amer Sports, Inc. (NYSE:AS) reached a new 52-week high on Wednesday after Morgan Stanley raised their price target on the stock from $19.00 to $27.00. Morgan Stanley currently has an equal weight rating on the stock. Amer Sports traded as high as $31.60 and last traded at $30.85, with a volume of 251506 shares trading hands. The stock had previously closed at $31.06.

A number of other analysts also recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Amer Sports from $20.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Citigroup raised their price objective on Amer Sports from $24.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Hsbc Global Res lowered Amer Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. HSBC lowered Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report on Monday, December 16th. Finally, UBS Group boosted their target price 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. Five 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 stock. According to data from MarketBeat, Amer Sports has an average rating of “Moderate Buy” and an average price target of $27.07.

Hedge Funds Weigh In On Amer Sports

A number of hedge funds have recently modified their holdings of AS. Amalgamated Bank purchased a new position in Amer Sports during the 2nd quarter valued at about $83,000. Sei Investments Co. increased its position in Amer Sports by 23.1% during the second quarter. Sei Investments Co. now owns 73,141 shares of the company’s stock worth $919,000 after buying an additional 13,748 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Amer Sports by 308.3% during 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 in the last quarter. Point72 Hong Kong Ltd lifted its position in shares of Amer Sports by 557.7% in the second quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock worth $41,161,000 after buying an additional 2,776,619 shares during the last quarter. Finally, Shellback Capital LP boosted its stake in shares of Amer Sports by 5.0% during the 2nd quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock worth $6,599,000 after acquiring an additional 25,000 shares in the last quarter. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Amer Sports Stock Performance

The stock has a fifty day moving average price of $26.61 and a 200 day moving average price of $18.84. 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 firm has a market cap of $16.86 billion and a price-to-earnings ratio of -220.59.

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.