Amer Sports (NYSE:AS) Price Target Raised to $46.00 at Bank of America

Amer Sports (NYSE:AS) had its price target increased by Bank of America from $45.00 to $46.00 in a research report sent to investors on Friday,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other research firms also recently weighed in on AS. Piper Sandler assumed coverage on Amer Sports in a research report on Thursday, June 26th. They set an “overweight” rating and a $45.00 target price on the stock. Wall Street Zen upgraded Amer Sports from a “hold” rating to a “buy” rating in a report on Friday, September 5th. UBS Group upped their target price on Amer Sports from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. KGI Securities set a $44.30 price objective on Amer Sports and gave the stock an “outperform” rating in a research note on Wednesday, June 25th. Finally, JPMorgan Chase & Co. upped their price objective on Amer Sports from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Amer Sports has a consensus rating of “Moderate Buy” and an average target price of $42.75.

Amer Sports Stock Down 1.1%

Shares of AS opened at $37.46 on Friday. The business’s 50 day moving average is $38.11 and its 200 day moving average is $33.28. The company has a market capitalization of $20.75 billion, a PE ratio of 91.37, a price-to-earnings-growth ratio of 1.27 and a beta of 3.30. Amer Sports has a 12-month low of $14.68 and a 12-month high of $42.36. The company has a current ratio of 1.60, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, August 19th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. Amer Sports had a return on equity of 6.87% and a net margin of 3.93%.The firm’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. Amer Sports has set its FY 2025 guidance at 0.770-0.820 EPS. Q3 2025 guidance at 0.200-0.220 EPS. Research analysts expect that Amer Sports will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amer Sports

A number of hedge funds have recently bought and sold shares of AS. Scopus Asset Management L.P. purchased a new position in Amer Sports during the second quarter worth approximately $108,562,000. Qube Research & Technologies Ltd boosted its position in Amer Sports by 139.9% during the second quarter. Qube Research & Technologies Ltd now owns 3,887,480 shares of the company’s stock worth $150,679,000 after purchasing an additional 2,267,066 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Amer Sports during the second quarter worth approximately $87,287,000. BNP Paribas Financial Markets lifted its position in shares of Amer Sports by 244.5% in the second quarter. BNP Paribas Financial Markets now owns 2,533,612 shares of the company’s stock valued at $98,203,000 after acquiring an additional 1,798,170 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Amer Sports in the second quarter valued at approximately $60,855,000. 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.