UBS Group Boosts Amer Sports (NYSE:AS) Price Target to $42.00

Amer Sports (NYSE:AS) had its price objective lifted by research analysts at UBS Group from $37.00 to $42.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 46.67% from the stock’s current price.

AS has been the topic of several other research reports. Wells Fargo & Company lifted their price target on shares of Amer Sports from $25.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on Amer Sports from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday. Hsbc Global Res downgraded Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Morgan Stanley raised their price objective on Amer Sports from $19.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, HSBC lowered Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Monday, December 16th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Amer Sports Price Performance

Amer Sports stock opened at $28.64 on Wednesday. The firm has a fifty day moving average of $30.08 and a 200-day moving average of $22.52. Amer Sports has a 52-week low of $10.11 and a 52-week high of $34.00. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $15.65 billion and a P/E ratio of -204.52.

Amer Sports (NYSE:AS) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.60 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. Amer Sports’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, analysts predict that Amer Sports will post 0.46 EPS for the current year.

Institutional Trading of Amer Sports

A number of institutional investors and hedge funds have recently modified their holdings of AS. BNP Paribas Financial Markets grew its position in shares of Amer Sports by 734.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock valued at $1,288,000 after buying an additional 71,086 shares during the last quarter. Woodson Capital Management LP bought a new position in shares of Amer Sports during the third quarter valued at approximately $12,907,000. XTX Topco Ltd bought a new position in shares of Amer Sports during the third quarter valued at approximately $609,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Amer Sports during the 3rd quarter worth approximately $337,000. Finally, State Street Corp lifted its holdings in shares of Amer Sports by 65.1% in the 3rd quarter. State Street Corp now owns 884,526 shares of the company’s stock worth $14,108,000 after purchasing an additional 348,877 shares during the last quarter. 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.