Amer Sports (NYSE:AS) Price Target Raised to $20.00 at Wells Fargo & Company

Amer Sports (NYSE:AS) had its target price raised by Wells Fargo & Company from $19.00 to $20.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday. Morgan Stanley upped their price target on Amer Sports from $15.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday. Citigroup raised their price objective on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird upped their target price on shares of Amer Sports from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, The Goldman Sachs Group upped their price objective on shares of Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.43.

Amer Sports Trading Up 1.3 %

NYSE:AS opened at $20.94 on Wednesday. Amer Sports has a 52 week low of $10.11 and a 52 week high of $21.69. The stock’s fifty day moving average is $17.57 and its two-hundred day moving average is $14.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87.

Amer Sports (NYSE:AS) last announced its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. The company had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The company’s revenue was up 16.0% on a year-over-year basis. On average, equities research analysts predict that Amer Sports will post 0.44 EPS for the current year.

Hedge Funds Weigh In On Amer Sports

Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC acquired a new stake in Amer Sports during the third quarter worth about $49,000. Quarry LP acquired a new position in shares of Amer Sports during the third quarter worth $61,000. CWM LLC purchased a new position in Amer Sports in the 3rd quarter valued at about $73,000. Dnca Finance bought a new position in Amer Sports during the 2nd quarter valued at $81,000. Finally, Amalgamated Bank bought a new stake in Amer Sports in the second quarter valued at about $83,000. 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.