JPMorgan Chase & Co. Issues Positive Forecast for Amer Sports (NYSE:AS) Stock Price

Amer Sports (NYSE:AS) had its target price increased by JPMorgan Chase & Co. from $33.00 to $34.00 in a report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. Hsbc Global Res cut Amer Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Wells Fargo & Company lifted their target price on Amer Sports from $25.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday. TD Cowen lifted their target price on Amer Sports from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Sanford C. Bernstein initiated coverage on Amer Sports in a research report on Thursday, February 13th. They set an “outperform” rating and a $38.00 target price on the stock. Finally, Citigroup lifted their target price on Amer Sports from $24.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Four equities 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 stock. Based on data from MarketBeat.com, Amer Sports has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Amer Sports Trading Up 5.1 %

Shares of Amer Sports stock opened at $30.31 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. Amer Sports has a 52 week low of $10.11 and a 52 week high of $34.00. The stock has a 50 day moving average price of $30.05 and a two-hundred day moving average price of $22.48. The stock has a market capitalization of $16.56 billion and a PE ratio of -216.51.

Amer Sports (NYSE:AS) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.60 billion. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities analysts anticipate that Amer Sports will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amer Sports

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AS. FMR LLC lifted its stake in shares of Amer Sports by 250.7% in the 4th quarter. FMR LLC now owns 26,414,511 shares of the company’s stock valued at $738,550,000 after acquiring an additional 18,881,504 shares during the last quarter. Brilliance Asset Management Ltd. lifted its stake in shares of Amer Sports by 5.1% in the 4th quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company’s stock valued at $113,883,000 after acquiring an additional 196,380 shares during the last quarter. Candlestick Capital Management LP lifted its stake in shares of Amer Sports by 1.7% in the 4th quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company’s stock valued at $108,052,000 after acquiring an additional 63,078 shares during the last quarter. WT Asset Management Ltd lifted its stake in shares of Amer Sports by 188.2% in the 4th quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company’s stock valued at $100,834,000 after acquiring an additional 2,355,182 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Amer Sports by 262.5% in the 4th quarter. Marshall Wace LLP now owns 3,316,167 shares of the company’s stock valued at $92,720,000 after acquiring an additional 2,401,302 shares during the last quarter. 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.