Piper Sandler Begins Coverage on Amer Sports (NYSE:AS)

Equities research analysts at Piper Sandler initiated coverage on shares of Amer Sports (NYSE:AS) in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $45.00 price target on the stock. Piper Sandler’s price target would indicate a potential upside of 14.25% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Citigroup reiterated a “buy” rating and issued a $42.00 target price (up previously from $30.00) on shares of Amer Sports in a report on Wednesday, May 21st. KGI Securities set a $44.30 target price on Amer Sports and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group lifted their target price on Amer Sports from $28.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, May 21st. Wells Fargo & Company set a $35.00 target price on Amer Sports and gave the stock an “equal weight” rating in a report on Wednesday, May 21st. Finally, TD Securities lifted their target price on Amer Sports from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, May 21st. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.81.

Amer Sports Trading Up 4.1%

Shares of NYSE:AS opened at $39.39 on Thursday. The stock has a market capitalization of $21.81 billion, a price-to-earnings ratio of 106.45, a PEG ratio of 1.41 and a beta of 3.64. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.80 and a current ratio of 1.66. The stock’s 50-day simple moving average is $32.72 and its two-hundred day simple moving average is $29.80. Amer Sports has a 52-week low of $10.11 and a 52-week high of $39.66.

Amer Sports (NYSE:AS) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.38 billion. Amer Sports had a return on equity of 7.21% and a net margin of 3.70%. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 earnings per share. Analysts expect that Amer Sports will post 0.46 EPS for the current year.

Hedge Funds Weigh In On Amer Sports

Several institutional investors and hedge funds have recently added to or reduced their stakes in AS. Voya Investment Management LLC acquired a new stake in shares of Amer Sports in the 1st quarter worth approximately $210,000. Strs Ohio acquired a new stake in shares of Amer Sports in the 1st quarter worth approximately $981,000. Goldman Sachs Group Inc. grew its holdings in Amer Sports by 44.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,173,674 shares of the company’s stock valued at $31,372,000 after buying an additional 358,536 shares during the last quarter. Temasek Holdings Private Ltd acquired a new stake in Amer Sports during the 1st quarter valued at $10,081,000. Finally, Tiger Pacific Capital LP acquired a new stake in Amer Sports during the 1st quarter valued at $8,316,000. Institutional investors and hedge funds own 40.25% of the company’s stock.

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.