Amer Sports (NYSE:AS) Given New $50.00 Price Target at JPMorgan Chase & Co.

Amer Sports (NYSE:AS) had its price target decreased by JPMorgan Chase & Co. from $53.00 to $50.00 in a research note released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other analysts have also commented on AS. Bank of America raised their price objective on Amer Sports from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 19th. UBS Group increased their target price on Amer Sports from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Zacks Research raised shares of Amer Sports from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. HSBC set a $50.00 price objective on shares of Amer Sports and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Finally, Hsbc Global Res upgraded shares of Amer Sports from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.21.

Amer Sports Trading Up 2.0%

Shares of Amer Sports stock opened at $30.96 on Monday. The firm has a 50-day simple moving average of $33.10 and a two-hundred day simple moving average of $35.45. The company has a market cap of $17.15 billion, a P/E ratio of 75.52, a price-to-earnings-growth ratio of 0.97 and a beta of 2.98. Amer Sports has a fifty-two week low of $18.56 and a fifty-two week high of $42.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 1.60.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, August 19th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. Amer Sports had a return on equity of 6.87% and a net margin of 3.93%.The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the firm earned $0.05 EPS. The company’s quarterly revenue was up 23.4% on a year-over-year basis. As a group, equities analysts predict 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 institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in Amer Sports in the 1st quarter valued at $34,000. SBI Securities Co. Ltd. boosted its position in shares of Amer Sports by 146.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 897 shares of the company’s stock valued at $35,000 after acquiring an additional 533 shares during the last quarter. Financial Consulate Inc. purchased a new stake in shares of Amer Sports in the third quarter valued at about $40,000. PNC Financial Services Group Inc. grew its holdings in shares of Amer Sports by 241.6% in the third quarter. PNC Financial Services Group Inc. now owns 1,199 shares of the company’s stock valued at $42,000 after purchasing an additional 848 shares during the period. Finally, Pacer Advisors Inc. acquired a new stake in Amer Sports during the third quarter worth about $44,000. Institutional investors and hedge funds 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.