TD Securities Issues Positive Forecast for Amer Sports (NYSE:AS) Stock Price

Amer Sports (NYSE:AS - Get Free Report) had its price objective boosted by TD Securities from $30.00 to $41.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Securities' target price suggests a potential upside of 10.47% from the company's previous close.

AS has been the subject of a number of other reports. Morgan Stanley boosted their price objective on Amer Sports from $19.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Wells Fargo & Company raised their price target on Amer Sports from $24.00 to $25.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Sanford C. Bernstein initiated coverage on shares of Amer Sports in a research report on Thursday, February 13th. They set an "outperform" rating and a $38.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Amer Sports from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, UBS Group increased their price objective on shares of Amer Sports from $37.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.67.

Amer Sports Price Performance

NYSE AS traded down $0.38 during trading hours on Wednesday, hitting $37.12. 2,969,817 shares of the company's stock traded hands, compared to its average volume of 2,790,506. Amer Sports has a 52-week low of $10.11 and a 52-week high of $38.42. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The company has a market capitalization of $20.56 billion, a PE ratio of -265.09, a PEG ratio of 0.72 and a beta of 2.76. The firm's 50-day moving average is $26.62 and its 200-day moving average is $27.46.

Amer Sports (NYSE:AS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.15 by $0.12. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.38 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The company's quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 EPS. Equities analysts forecast that Amer Sports will post 0.46 EPS for the current fiscal year.

Institutional Trading of Amer Sports

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in Amer Sports by 957.6% during the 4th quarter. Bank of America Corp DE now owns 384,705 shares of the company's stock worth $10,756,000 after buying an additional 348,329 shares during the last quarter. Element Capital Management LLC bought a new stake in shares of Amer Sports in the 4th quarter worth $357,000. GAM Holding AG bought a new position in Amer Sports during the fourth quarter valued at about $13,460,000. Renaissance Capital LLC raised its position in Amer Sports by 116.2% in the fourth quarter. Renaissance Capital LLC now owns 135,697 shares of the company's stock worth $3,794,000 after acquiring an additional 72,936 shares in the last quarter. Finally, Pamalican Asset Management Ltd acquired a new stake in Amer Sports in the 4th quarter valued at about $20,970,000. 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.