Amer Sports (NYSE:AS) Price Target Raised to $33.00 at TD Cowen

Amer Sports (NYSE:AS) had its price objective increased by analysts at TD Cowen from $29.00 to $33.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 7.98% from the stock’s previous close.

Several other analysts also recently commented on AS. JPMorgan Chase & Co. increased their target price on shares of Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Morgan Stanley lifted their target price on shares of Amer Sports from $15.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Hsbc Global Res lowered Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Nomura Securities upgraded Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, The Goldman Sachs Group boosted their price objective on Amer Sports from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.50.

Amer Sports Trading Up 2.8 %

Shares of Amer Sports stock opened at $30.56 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $25.11 and a 200 day simple moving average of $17.95. Amer Sports has a 12-month low of $10.11 and a 12-month high of $31.32. The company has a market capitalization of $16.70 billion and a P/E ratio of -218.27.

Hedge Funds Weigh In On Amer Sports

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new position in shares of Amer Sports in the second quarter valued at $3,164,000. Rhumbline Advisers bought a new position in Amer Sports in the 2nd quarter worth about $1,142,000. Amalgamated Bank bought a new position in Amer Sports in the 2nd quarter worth about $83,000. Sei Investments Co. grew its holdings in Amer Sports by 23.1% during the 2nd quarter. Sei Investments Co. now owns 73,141 shares of the company’s stock valued at $919,000 after buying an additional 13,748 shares in the last quarter. Finally, Hood River Capital Management LLC increased its position in shares of Amer Sports by 32.9% during the second quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company’s stock valued at $48,983,000 after buying an additional 965,625 shares during the period. Hedge funds and other 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.