Amer Sports (NYSE:AS) Stock Price Expected to Rise, UBS Group Analyst Says

Amer Sports (NYSE:AS) had its price target boosted by UBS Group from $19.00 to $24.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 32.96% from the company’s previous close.

AS has been the subject of a number of other reports. Evercore ISI reaffirmed an “outperform” rating and set a $21.00 price objective on shares of Amer Sports in a report on Wednesday, August 21st. TD Cowen raised their target price on shares of Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Nomura Securities upgraded Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Wells Fargo & Company downgraded shares of Amer Sports from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $17.00 to $19.00 in a research note on Monday, October 14th. Finally, The Goldman Sachs Group upped their price objective on Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Four 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.21.

Amer Sports Stock Performance

Shares of Amer Sports stock opened at $18.05 on Tuesday. Amer Sports has a 1-year low of $10.11 and a 1-year high of $19.73. The company’s fifty day simple moving average is $16.50 and its 200-day simple moving average is $14.47. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

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, topping analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business had revenue of $993.80 million during the quarter, compared to analyst estimates of $947.59 million. Amer Sports’s revenue was up 16.0% on a year-over-year basis. On average, equities analysts anticipate that Amer Sports will post 0.44 earnings per share for the current year.

Institutional Trading of Amer Sports

Institutional investors and hedge funds have recently made changes to their positions in the business. Tocqueville Asset Management L.P. purchased a new position in Amer Sports during the 1st quarter worth $813,000. Sei Investments Co. purchased a new position in shares of Amer Sports during the first quarter valued at $968,000. Shellback Capital LP raised its holdings in shares of Amer Sports by 5.0% in the second quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock valued at $6,599,000 after acquiring an additional 25,000 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Amer Sports in the second quarter worth about $3,164,000. Finally, Quadrature Capital Ltd bought a new position in Amer Sports during the 1st quarter worth about $390,000. 40.25% of the stock is currently owned by institutional investors.

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.