Wells Fargo & Company Lowers Amer Sports (NYSE:AS) Price Target to $24.00

Amer Sports (NYSE:AS) had its price target dropped by investment analysts at Wells Fargo & Company from $28.00 to $24.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential downside of 0.99% from the stock’s current price.

A number of other brokerages have also issued reports on AS. UBS Group upped their price target on shares of Amer Sports from $37.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. The Goldman Sachs Group reduced their price target on shares of Amer Sports from $33.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Sanford C. Bernstein assumed coverage on Amer Sports in a report on Thursday, February 13th. They issued an “outperform” rating and a $38.00 price objective for the company. Citigroup reduced their target price on Amer Sports from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Monday. Finally, Morgan Stanley boosted their price target on Amer Sports from $19.00 to $27.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.45.

Amer Sports Trading Down 0.0 %

NYSE AS opened at $24.24 on Wednesday. The stock has a market cap of $13.43 billion, a P/E ratio of -173.14, a PEG ratio of 0.72 and a beta of 2.66. The company’s fifty day simple moving average is $25.80 and its 200-day simple moving average is $25.95. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. Amer Sports has a 52 week low of $10.11 and a 52 week high of $34.00.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AS. Virtu Financial LLC acquired a new position in shares of Amer Sports during the third quarter valued at approximately $167,000. JPMorgan Chase & Co. acquired a new stake in Amer Sports during the 3rd quarter valued at $25,000. GAMMA Investing LLC boosted 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 acquiring an additional 742 shares during the period. Kieckhefer Group LLC purchased a new position in Amer Sports during the fourth quarter valued at approximately $42,000. Finally, Artemis Investment Management LLP raised its holdings in shares of Amer Sports by 35.1% during the fourth quarter. Artemis Investment Management LLP now owns 24,817 shares of the company’s stock worth $694,000 after acquiring an additional 6,444 shares in the last quarter. Institutional investors 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.