Morgan Stanley Boosts Amer Sports (NYSE:AS) Price Target to $33.00

Amer Sports (NYSE:AS) had its price target boosted by equities researchers at Morgan Stanley from $28.00 to $33.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 12.02% from the stock’s current price.

Several other brokerages also recently issued reports on AS. Wells Fargo & Company raised their price objective on shares of Amer Sports from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup cut their price objective on shares of Amer Sports from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, April 28th. UBS Group raised their price objective on shares of Amer Sports from $37.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday. TD Securities raised their price objective on shares of Amer Sports from $30.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Sanford C. Bernstein assumed coverage on shares of Amer Sports in a research report on Thursday, February 13th. They set an “outperform” rating and a $38.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.67.

Amer Sports Trading Up 1.4%

Shares of NYSE:AS opened at $37.51 on Wednesday. Amer Sports has a 52-week low of $10.11 and a 52-week high of $38.42. The company has a market capitalization of $20.77 billion, a P/E ratio of -267.91, a price-to-earnings-growth ratio of 0.72 and a beta of 2.76. The company has a 50-day simple moving average of $26.44 and a 200 day simple moving average of $27.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62.

Amer Sports (NYSE:AS) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.38 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period last year, the business posted $0.08 earnings per share. Sell-side analysts forecast that Amer Sports will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On Amer Sports

A number of hedge funds and other institutional investors have recently made changes to their positions in AS. JPMorgan Chase & Co. bought a new position in Amer Sports in the third quarter valued at approximately $25,000. Dakota Wealth Management bought a new position in Amer Sports in the fourth quarter valued at approximately $1,083,000. West Branch Capital LLC increased its stake in Amer Sports by 14,285.7% in the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock valued at $28,000 after acquiring an additional 1,000 shares during the last quarter. SG Americas Securities LLC bought a new position in Amer Sports in the fourth quarter valued at approximately $269,000. Finally, Exchange Traded Concepts LLC bought a new position in Amer Sports in the fourth quarter valued at approximately $2,513,000. 40.25% of the stock is currently 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.