Amer Sports (NYSE:AS) Price Target Raised to $28.00 at Wells Fargo & Company

Amer Sports (NYSE:AS) had its price objective increased by Wells Fargo & Company from $25.00 to $28.00 in a report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Hsbc Global Res cut shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. UBS Group upped their price objective on Amer Sports from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Citigroup upped 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, January 8th. Morgan Stanley boosted their price target on shares of Amer Sports from $19.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group boosted their target price on shares of Amer Sports from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.50.

Amer Sports Price Performance

Shares of AS opened at $30.31 on Wednesday. Amer Sports has a twelve month low of $10.11 and a twelve month high of $34.00. The firm has a 50 day moving average of $30.05 and a 200 day moving average of $22.48. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $16.56 billion and a P/E ratio of -216.51.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.60 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities research analysts anticipate that Amer Sports will post 0.46 earnings per share for the current fiscal year.

Institutional Trading of Amer Sports

Several large investors have recently bought and sold shares of AS. West Branch Capital LLC grew its holdings in shares of Amer Sports by 14,285.7% during the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock valued at $28,000 after buying an additional 1,000 shares during the last quarter. Kieckhefer Group LLC purchased a new position in shares of Amer Sports in the fourth quarter worth about $42,000. JPMorgan Chase & Co. purchased a new stake in Amer Sports in the third quarter valued at approximately $25,000. GAMMA Investing LLC increased its holdings in Amer Sports by 61.8% in the 4th 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. Finally, Signaturefd LLC acquired a new stake in Amer Sports during the 3rd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

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.