Amer Sports (NYSE:AS) Reaches New 1-Year High – Here’s Why

Shares of Amer Sports, Inc. (NYSE:AS) reached a new 52-week high on Friday . The company traded as high as $29.60 and last traded at $29.43, with a volume of 1247170 shares traded. The stock had previously closed at $28.85.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AS. The Goldman Sachs Group lifted their price target on shares of Amer Sports from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Nomura Securities upgraded Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Robert W. Baird upped their price objective on Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Citigroup raised their target price on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, HSBC downgraded Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Monday, December 16th. Five research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.14.

Amer Sports Stock Performance

The stock has a market cap of $16.11 billion and a PE ratio of -210.63. The firm’s 50-day moving average is $24.13 and its 200 day moving average is $17.51. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62.

Hedge Funds Weigh In On Amer Sports

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Amer Sports by 61.8% during the 4th quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock worth $54,000 after buying an additional 742 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Amer Sports during the third quarter worth about $25,000. Signaturefd LLC acquired a new stake in Amer Sports in the third quarter valued at about $49,000. Quarry LP purchased a new stake in Amer Sports in the 3rd quarter valued at approximately $61,000. Finally, CWM LLC acquired a new position in Amer Sports during the 3rd quarter worth approximately $73,000. Institutional investors and hedge funds 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.