Amer Sports (NYSE:AS) Coverage Initiated at Piper Sandler

Stock analysts at Piper Sandler began coverage on shares of Amer Sports (NYSE:AS - Get Free Report) in a report released on Thursday, MarketBeat Ratings reports. The firm set an "overweight" rating and a $45.00 price target on the stock. Piper Sandler's price objective indicates a potential upside of 16.16% from the stock's current price.

AS has been the subject of several other reports. JPMorgan Chase & Co. lifted their target price on shares of Amer Sports from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. UBS Group reiterated a "buy" rating and set a $50.00 target price (up from $37.00) on shares of Amer Sports in a report on Wednesday, May 21st. TD Securities lifted their target price on shares of Amer Sports from $30.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Citigroup reiterated a "buy" rating and set a $42.00 target price (up from $30.00) on shares of Amer Sports in a report on Wednesday, May 21st. Finally, Wall Street Zen upgraded shares of Amer Sports from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $37.81.

Amer Sports Stock Down 1.6%

AS traded down $0.62 on Thursday, hitting $38.74. The company had a trading volume of 7,790,897 shares, compared to its average volume of 3,120,679. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 0.80. Amer Sports has a 52-week low of $10.11 and a 52-week high of $40.21. The stock has a fifty day simple moving average of $33.06 and a 200-day simple moving average of $29.93. The firm has a market capitalization of $21.46 billion, a P/E ratio of 104.70, a P/E/G ratio of 1.46 and a beta of 3.64.

Amer Sports (NYSE:AS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.15 by $0.12. Amer Sports had a net margin of 3.70% and a return on equity of 7.21%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business posted $0.08 earnings per share. Amer Sports's quarterly revenue was up 24.5% compared to the same quarter last year. As a group, equities analysts expect that Amer Sports will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP bought a new stake in Amer Sports in the 1st quarter worth approximately $34,000. Colonial Trust Advisors bought a new stake in Amer Sports in the 1st quarter worth approximately $93,000. Sterling Capital Management LLC grew its position in Amer Sports by 55.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock worth $97,000 after purchasing an additional 1,250 shares during the period. Signaturefd LLC grew its position in Amer Sports by 35.0% in the 4th quarter. Signaturefd LLC now owns 4,136 shares of the company's stock worth $116,000 after purchasing an additional 1,073 shares during the period. Finally, Mainstream Capital Management LLC bought a new stake in Amer Sports in the 4th quarter worth approximately $190,000. 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.