Amer Sports (NYSE:AS) Trading Up 7.2% Following Analyst Upgrade

Amer Sports, Inc. (NYSE:AS) traded up 7.2% on Thursday after UBS Group raised their price target on the stock from $24.00 to $27.00. UBS Group currently has a buy rating on the stock. Amer Sports traded as high as $22.56 and last traded at $22.47. 1,211,135 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 1,725,511 shares. The stock had previously closed at $20.96.

A number of other research analysts have also weighed in on AS. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Morgan Stanley upped their price objective on shares of Amer Sports from $15.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday. The Goldman Sachs Group boosted their target price on shares of Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday, October 21st. Evercore ISI reaffirmed an “outperform” rating and set a $21.00 price target on shares of Amer Sports in a research report on Wednesday, August 21st. Finally, Robert W. Baird increased their price objective on Amer Sports from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.43.

Institutional Investors Weigh In On Amer Sports

Several hedge funds and other institutional investors have recently made changes to their positions in AS. Sei Investments Co. purchased a new stake in Amer Sports in the 1st quarter valued at $968,000. Shellback Capital LP lifted its stake in shares of Amer Sports by 5.0% in the 2nd quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock worth $6,599,000 after acquiring an additional 25,000 shares during the period. Creative Planning purchased a new stake in shares of Amer Sports in the third quarter valued at about $656,000. Bank of New York Mellon Corp acquired a new position in shares of Amer Sports during the second quarter worth about $3,164,000. Finally, Quadrature Capital Ltd purchased a new stake in Amer Sports in the 1st quarter valued at approximately $390,000. Institutional investors and hedge funds own 40.25% of the company’s stock.

Amer Sports Trading Up 2.6 %

The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $12.28 billion and a PE ratio of -169.91. The business has a 50 day moving average price of $17.91 and a 200-day moving average price of $14.92.

Amer Sports (NYSE:AS) last released its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.11. The firm had revenue of $993.80 million during the quarter, compared to the consensus estimate of $947.59 million. Amer Sports had a positive return on equity of 3.59% and a negative net margin of 0.74%. The firm’s revenue was up 16.0% compared to the same quarter last year. Analysts expect that Amer Sports, Inc. will post 0.44 earnings per share for the current year.

Amer Sports Company Profile

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.