Wells Fargo & Company Forecasts Strong Price Appreciation for Amer Sports (NYSE:AS) Stock

Amer Sports (NYSE:AS) had its price objective lifted by analysts at Wells Fargo & Company from $25.00 to $35.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 6.69% from the stock’s previous close.

Other analysts have also issued research reports about the company. Morgan Stanley increased their target price on Amer Sports from $19.00 to $27.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on Amer Sports from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. TD Securities increased their price objective on Amer Sports from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group cut their price objective on Amer Sports from $33.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Finally, Sanford C. Bernstein started coverage on Amer Sports in a report on Thursday, February 13th. They set an “outperform” rating and a $38.00 price objective for the company. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Amer Sports currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.67.

Amer Sports Price Performance

AS opened at $37.51 on Wednesday. The stock has a fifty day moving average of $26.44 and a 200-day moving average of $27.21. The firm has a market capitalization of $20.77 billion, a P/E ratio of -267.91, a PEG ratio of 0.72 and a beta of 2.76. Amer Sports has a 12-month low of $10.11 and a 12-month high of $38.42. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last released its earnings results on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $0.08 earnings per share. Equities analysts forecast that Amer Sports will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. West Branch Capital LLC lifted its holdings in Amer Sports by 14,285.7% in the 4th quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock worth $28,000 after purchasing an additional 1,000 shares during the last quarter. Quarry LP bought a new position in shares of Amer Sports in the first quarter worth about $34,000. JPMorgan Chase & Co. bought a new position in shares of Amer Sports in the third quarter worth about $25,000. Colonial Trust Advisors bought a new position in shares of Amer Sports in the first quarter worth about $93,000. Finally, Sterling Capital Management LLC increased its stake in shares of Amer Sports by 55.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,487 shares of the company’s stock worth $97,000 after purchasing an additional 1,250 shares during the period. 40.25% of the stock is 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.