Amer Sports (NYSE:AS) Stock Price Expected to Rise, Citigroup Analyst Says

Amer Sports (NYSE:AS) had its price objective hoisted by research analysts at Citigroup from $24.00 to $36.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 17.80% from the company’s previous close.

A number of other analysts have also commented on the stock. Robert W. Baird upped their price objective on shares of Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. TD Cowen upped their price target on shares of Amer Sports from $23.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company raised their price objective on shares of Amer Sports from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. UBS Group boosted 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. Finally, JPMorgan Chase & Co. raised their target price on Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Five 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.50.

Amer Sports Stock Up 2.8 %

Shares of Amer Sports stock opened at $30.56 on Wednesday. Amer Sports has a 12-month low of $10.11 and a 12-month high of $31.32. The firm has a market capitalization of $16.70 billion and a PE ratio of -218.27. 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’s fifty day moving average is $25.11 and its 200-day moving average is $17.95.

Hedge Funds Weigh In On Amer Sports

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its position in Amer Sports by 734.8% in the third quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock worth $1,288,000 after acquiring an additional 71,086 shares in the last quarter. Woodson Capital Management LP acquired a new stake in shares of Amer Sports in the 3rd quarter valued at $12,907,000. Shellback Capital LP boosted its holdings in Amer Sports by 5.0% in the second quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock worth $6,599,000 after purchasing an additional 25,000 shares in the last quarter. XTX Topco Ltd acquired a new position in Amer Sports during the third quarter worth $609,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Amer Sports during the third quarter worth $337,000. 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.