Amer Sports (NYSE:AS) Reaches New 12-Month High – Should You Buy?

Amer Sports, Inc. (NYSE:AS)’s share price reached a new 52-week high on Friday . The company traded as high as $29.60 and last traded at $29.43, with a volume of 1247170 shares. The stock had previously closed at $28.85.

Analysts Set New Price Targets

AS has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Evercore ISI raised their target price 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 raised their target price on shares of Amer Sports from $27.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, HSBC downgraded shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Monday, December 16th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.14.

Amer Sports Trading Up 2.5 %

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 stock has a market capitalization of $16.16 billion and a price-to-earnings ratio of -211.27. The company’s 50-day moving average is $23.90 and its 200-day moving average is $17.41.

Institutional Investors Weigh In On Amer Sports

A number of hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new stake in Amer Sports in the third quarter valued at approximately $25,000. Signaturefd LLC acquired a new position in Amer Sports in the third quarter valued at approximately $49,000. GAMMA Investing LLC lifted its position in shares of Amer Sports by 61.8% during 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 last quarter. Quarry LP purchased a new stake in Amer Sports in the third quarter valued at $61,000. Finally, CWM LLC acquired a new stake in shares of Amer Sports during the third quarter worth about $73,000. 40.25% of the stock is currently owned by institutional investors and hedge funds.

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.