Amer Sports (NYSE:AS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Amer Sports (NYSE:AS) had its price objective increased by analysts at JPMorgan Chase & Co. from $19.00 to $26.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 9.30% from the stock’s previous close.

A number of other brokerages have also recently issued reports on AS. UBS Group increased their price objective on shares of Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Citigroup increased their price objective on shares of Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. TD Cowen increased their target price on shares of Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group increased their target price 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 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. According to data from MarketBeat, Amer Sports currently has an average rating of “Moderate Buy” and a consensus target price of $21.43.

Amer Sports Price Performance

NYSE AS opened at $23.79 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. Amer Sports has a 1 year low of $10.11 and a 1 year high of $23.99. The company has a fifty day simple moving average of $17.72 and a 200 day simple moving average of $14.85. The company has a market cap of $12.02 billion and a P/E ratio of -164.43.

Amer Sports (NYSE:AS) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.59%. The firm had revenue of $993.80 million during the quarter, compared to the consensus estimate of $947.59 million. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, sell-side analysts predict that Amer Sports will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Amer Sports

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