Amer Sports (NYSE:AS) Receives “Outperform” Rating from Evercore ISI

Amer Sports (NYSE:AS)‘s stock had its “outperform” rating reaffirmed by Evercore ISI in a research note issued on Wednesday, Benzinga reports. They presently have a $21.00 price target on the stock. Evercore ISI’s price target points to a potential upside of 49.79% from the stock’s current price.

Several other research firms also recently weighed in on AS. UBS Group lifted their price target on shares of Amer Sports from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company reduced their price objective on shares of Amer Sports from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Finally, Morgan Stanley reduced their price objective on shares of Amer Sports from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Amer Sports currently has an average rating of “Moderate Buy” and a consensus price target of $18.50.

Amer Sports Trading Up 2.9 %

Shares of NYSE:AS traded up $0.39 during trading hours on Wednesday, hitting $14.02. 535,740 shares of the company’s stock traded hands, compared to its average volume of 1,582,990. Amer Sports has a 1 year low of $10.11 and a 1 year high of $18.23. The business has a fifty day moving average price of $12.18 and a 200-day moving average price of $14.13. The company has a quick ratio of 0.97, a current ratio of 1.96 and a debt-to-equity ratio of 0.07.

Amer Sports (NYSE:AS) last posted its quarterly earnings results 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 company had revenue of $993.80 million for the quarter, compared to the consensus estimate of $947.59 million. The firm’s revenue was up 16.0% compared to the same quarter last year. Equities research analysts anticipate that Amer Sports will post 0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

A number of large investors have recently made changes to their positions in the stock. Shellback Capital LP grew its holdings in shares of Amer Sports by 5.0% during the second quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock valued at $6,599,000 after buying an additional 25,000 shares during the last quarter. Point72 Hong Kong Ltd boosted its holdings in Amer Sports by 557.7% in the second quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock valued at $41,161,000 after purchasing an additional 2,776,619 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Amer Sports by 308.3% in the second quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock valued at $39,045,000 after purchasing an additional 2,345,420 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in Amer Sports by 32.9% in 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 purchasing an additional 965,625 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Amer Sports by 23.1% in the second quarter. Sei Investments Co. now owns 73,141 shares of the company’s stock valued at $919,000 after purchasing an additional 13,748 shares during the last quarter. 40.25% of the stock is owned by hedge funds and other institutional investors.

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.