Amer Sports, Inc. (NYSE:AS) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Amer Sports, Inc. has received an average rating of "Moderate Buy" from sixteen brokers, with four holding, eleven buying, and one strongly buying the stock.
• The average one-year price target among analysts for Amer Sports is $38.74, with notable upgrades from firms like Piper Sandler and JPMorgan Chase & Co.
• In its latest quarterly earnings report, Amer Sports surpassed expectations with $0.27 EPS and revenues of $1.47 billion, showing a 24.5% increase year-over-year.

Shares of Amer Sports, Inc. (NYSE:AS - Get Free Report) have received an average recommendation of "Moderate Buy" from the sixteen ratings firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $38.74.

AS has been the topic of a number of research reports. Piper Sandler initiated coverage on shares of Amer Sports in a research report on Thursday, June 26th. They set an "overweight" rating and a $45.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Amer Sports from $45.00 to $46.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Wall Street Zen upgraded shares of Amer Sports from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Morgan Stanley upped their target price on shares of Amer Sports from $28.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company set a $35.00 target price on shares of Amer Sports and gave the stock an "equal weight" rating in a research report on Wednesday, May 21st.

Institutional Investors Weigh In On Amer Sports

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. bought a new stake in Amer Sports in the fourth quarter valued at approximately $1,269,000. JPMorgan Chase & Co. increased its stake in Amer Sports by 33,494.4% in the fourth quarter. JPMorgan Chase & Co. now owns 524,072 shares of the company's stock valued at $14,653,000 after purchasing an additional 522,512 shares in the last quarter. Norges Bank bought a new stake in Amer Sports in the fourth quarter valued at approximately $12,424,000. Trexquant Investment LP bought a new stake in Amer Sports in the fourth quarter valued at approximately $5,071,000. Finally, Envestnet Asset Management Inc. increased its stake in Amer Sports by 16.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 36,018 shares of the company's stock valued at $1,007,000 after purchasing an additional 5,157 shares in the last quarter. 40.25% of the stock is owned by institutional investors.

Amer Sports Price Performance

NYSE:AS opened at $36.49 on Monday. The firm has a market cap of $20.21 billion, a PE ratio of 98.62, a price-to-earnings-growth ratio of 1.49 and a beta of 3.31. Amer Sports has a 12 month low of $10.11 and a 12 month high of $40.21. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.24. The company's 50-day moving average price is $37.74 and its two-hundred day moving average price is $31.49.

Amer Sports (NYSE:AS - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.12. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.38 billion. Amer Sports had a net margin of 3.70% and a return on equity of 7.21%. The company'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 business earned $0.08 earnings per share. On average, equities analysts anticipate that Amer Sports will post 0.46 EPS for the current fiscal year.

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.

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