The Goldman Sachs Group Boosts Amer Sports (NYSE:AS) Price Target to $44.00

Amer Sports (NYSE:AS) had its price objective upped by equities researchers at The Goldman Sachs Group from $28.00 to $44.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 17.30% from the company’s current price.

A number of other brokerages have also recently commented on AS. TD Securities raised their target price on Amer Sports from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group raised their target price on Amer Sports from $37.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley raised their target price on Amer Sports from $28.00 to $33.00 and gave the stock an “equal weight” rating in a report on Wednesday. Citigroup decreased 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, April 28th. Finally, Sanford C. Bernstein initiated coverage on Amer Sports in a report on Thursday, February 13th. They set an “outperform” rating and a $38.00 price target on the stock. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amer Sports currently has a consensus rating of “Moderate Buy” and an average price target of $36.67.

Amer Sports Stock Performance

AS stock opened at $37.51 on Wednesday. The company has a market cap 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. Amer Sports has a 1 year low of $10.11 and a 1 year high of $38.42. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The stock’s fifty day moving average price is $26.44 and its 200-day moving average price is $27.21.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AS. JPMorgan Chase & Co. purchased a new position in shares of Amer Sports during the third quarter valued at about $25,000. West Branch Capital LLC grew its position in shares of Amer Sports by 14,285.7% during the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock valued at $28,000 after purchasing an additional 1,000 shares in the last quarter. Quarry LP purchased a new position in shares of Amer Sports during the first quarter valued at about $34,000. Colonial Trust Advisors purchased a new position in shares of Amer Sports during the first quarter valued at about $93,000. Finally, Sterling Capital Management LLC grew its position in shares of Amer Sports by 55.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,487 shares of the company’s stock valued at $97,000 after purchasing an additional 1,250 shares in the last quarter. Hedge funds and other 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.