Amer Sports (NYSE:AS - Free Report) had its price objective upped by Morgan Stanley from $28.00 to $33.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.
A number of other brokerages have also recently weighed in on AS. UBS Group reissued a "buy" rating and set a $50.00 price objective (up from $37.00) on shares of Amer Sports in a report on Wednesday, May 21st. Citigroup decreased their price objective on Amer Sports from $36.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Wells Fargo & Company set a $35.00 target price on Amer Sports and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. increased their target price on Amer Sports from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Finally, Sanford C. Bernstein assumed coverage on Amer Sports in a research note on Thursday, February 13th. They issued an "outperform" rating and a $38.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Amer Sports has an average rating of "Moderate Buy" and an average target price of $36.67.
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Amer Sports Price Performance
Shares of AS traded down $0.38 during mid-day trading on Wednesday, reaching $37.12. 2,969,817 shares of the stock traded hands, compared to its average volume of 2,790,506. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. Amer Sports has a 1 year low of $10.11 and a 1 year high of $38.42. The company has a market cap of $20.56 billion, a price-to-earnings ratio of -265.09, a price-to-earnings-growth ratio of 0.72 and a beta of 2.76. The firm has a fifty day moving average price of $26.62 and a 200 day moving average price of $27.46.
Amer Sports (NYSE:AS - Get Free Report) last posted its 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 business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.38 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The firm's revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 earnings per share. As a group, equities research analysts predict that Amer Sports will post 0.46 earnings per share for the current year.
Institutional Investors Weigh In On Amer Sports
A number of large investors have recently made changes to their positions in the stock. Scotia Capital Inc. lifted its position in Amer Sports by 1.0% during the first quarter. Scotia Capital Inc. now owns 50,841 shares of the company's stock worth $1,359,000 after buying an additional 488 shares in the last quarter. Signaturefd LLC increased its stake in shares of Amer Sports by 19.1% in the 1st quarter. Signaturefd LLC now owns 4,925 shares of the company's stock worth $132,000 after acquiring an additional 789 shares during the last quarter. West Branch Capital LLC raised its holdings in shares of Amer Sports by 14,285.7% during the 4th quarter. West Branch Capital LLC now owns 1,007 shares of the company's stock worth $28,000 after acquiring an additional 1,000 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Amer Sports by 55.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock worth $97,000 after acquiring an additional 1,250 shares during the period. Finally, Quarry LP acquired a new position in shares of Amer Sports during the 1st quarter valued at about $34,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.
Amer Sports Company Profile
(
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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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