Morgan Stanley Boosts Amer Sports (NYSE:AS) Price Target to $19.00

Amer Sports (NYSE:AS) had its price objective hoisted by equities researchers at Morgan Stanley from $15.00 to $19.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 20.12% from the stock’s previous close.

A number of other brokerages also recently weighed in on AS. TD Cowen boosted their price target on shares of Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. UBS Group boosted their target price 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. Evercore ISI restated an “outperform” rating and set a $21.00 price target on shares of Amer Sports in a research note on Wednesday, August 21st. Wells Fargo & Company downgraded Amer Sports from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $17.00 to $19.00 in a research note on Monday, October 14th. Finally, The Goldman Sachs Group raised their target price on Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.43.

Amer Sports Price Performance

Shares of AS opened at $23.79 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58. The stock has a market cap of $12.02 billion and a PE ratio of -164.43. Amer Sports has a 12-month low of $10.11 and a 12-month high of $23.99. The business has a 50-day simple moving average of $17.72 and a two-hundred day simple moving average of $14.85.

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

Institutional Trading of Amer Sports

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. purchased a new position in Amer Sports in the first quarter valued at $968,000. Shellback Capital LP boosted 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 valued at $6,599,000 after buying an additional 25,000 shares during the period. Creative Planning acquired a new position in shares of Amer Sports during the third quarter worth about $656,000. Bank of New York Mellon Corp purchased a new stake in shares of Amer Sports during the second quarter worth approximately $3,164,000. Finally, Quadrature Capital Ltd acquired a new stake in Amer Sports in the first quarter valued at approximately $390,000. 40.25% of the stock is owned by institutional investors and hedge funds.

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.