Wells Fargo & Company Trims Amer Sports (NYSE:AS) Target Price to $17.00

Amer Sports (NYSE:AS) had its price target reduced by Wells Fargo & Company from $19.00 to $17.00 in a research report report published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Evercore ISI assumed coverage on Amer Sports in a report on Monday, February 26th. They set an outperform rating and a $21.00 target price for the company. JPMorgan Chase & Co. assumed coverage on Amer Sports in a research report on Monday, February 26th. They issued an overweight rating and a $19.00 price target on the stock. Bank of America upped their price objective on shares of Amer Sports from $18.00 to $19.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. TD Cowen assumed coverage on shares of Amer Sports in a research report on Monday, February 26th. They set an outperform rating and a $18.00 price objective for the company. Finally, Morgan Stanley assumed coverage on shares of Amer Sports in a research report on Monday, February 26th. They set an equal weight rating and a $16.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $18.86.

Amer Sports Price Performance

AS opened at $15.04 on Thursday. Amer Sports has a fifty-two week low of $13.10 and a fifty-two week high of $18.23. The company has a debt-to-equity ratio of 477.02, a current ratio of 1.49 and a quick ratio of 0.80. The stock’s fifty day moving average price is $15.36.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, March 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. On average, equities research analysts predict that Amer Sports will post 0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Amer Sports stock. SYSTM Wealth Solutions LLC acquired a new stake in Amer Sports, Inc. (NYSE:AS) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 19,591 shares of the company’s stock, valued at approximately $319,000. Institutional investors own 40.25% of the company’s stock.

Amer Sports Company Profile

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.