Amer Sports (NYSE:AS) Upgraded by Wall Street Zen to Buy Rating

Amer Sports (NYSE:AS) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

AS has been the topic of a number of other reports. Wells Fargo & Company set a $35.00 price target on Amer Sports and gave the stock an “equal weight” rating in a research report on Wednesday. Sanford C. Bernstein initiated coverage on Amer Sports in a research note on Thursday, February 13th. They set an “outperform” rating and a $38.00 target price on the stock. UBS Group reiterated a “buy” rating and issued a $50.00 price target (up from $37.00) on shares of Amer Sports in a research note on Wednesday. TD Securities raised their price target on Amer Sports from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on Amer Sports from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Amer Sports Stock Down 1.0%

Amer Sports stock opened at $37.12 on Friday. The business has a fifty day moving average of $26.62 and a two-hundred day moving average of $27.34. 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 cap of $20.56 billion, a P/E ratio of -265.09, a P/E/G ratio of 0.72 and a beta of 2.76. Amer Sports has a twelve month low of $10.11 and a twelve month high of $38.42.

Amer Sports (NYSE:AS) last released its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 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 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 business’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. On average, analysts forecast that Amer Sports will post 0.46 earnings per share for the current fiscal year.

Institutional Trading of Amer Sports

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Amer Sports by 250.7% during the fourth quarter. FMR LLC now owns 26,414,511 shares of the company’s stock worth $738,550,000 after purchasing an additional 18,881,504 shares during the last quarter. Brilliance Asset Management Ltd. grew its position in Amer Sports by 5.1% during the 4th quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company’s stock worth $113,883,000 after purchasing an additional 196,380 shares during the period. Candlestick Capital Management LP raised its stake in shares of Amer Sports by 1.7% during the 4th quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company’s stock valued at $108,052,000 after buying an additional 63,078 shares during the last quarter. WT Asset Management Ltd raised its stake in shares of Amer Sports by 188.2% during the 4th quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company’s stock valued at $100,834,000 after buying an additional 2,355,182 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Amer Sports by 262.5% in the 4th quarter. Marshall Wace LLP now owns 3,316,167 shares of the company’s stock valued at $92,720,000 after buying an additional 2,401,302 shares during the period. 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.