Amer Sports (NYSE:AS) Upgraded to "Buy" at Wall Street Zen

Amer Sports (NYSE:AS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

A number of other research firms have also recently issued reports on AS. Citigroup restated a "buy" rating and set a $42.00 target price (up previously from $30.00) on shares of Amer Sports in a research note on Wednesday, May 21st. The Goldman Sachs Group raised their target price on shares of Amer Sports from $28.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. TD Securities raised their target price on shares of Amer Sports from $30.00 to $41.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Wells Fargo & Company set a $35.00 price objective on shares of Amer Sports and gave the stock an "equal weight" rating in a research note on Wednesday, May 21st. Finally, UBS Group reiterated a "buy" rating and issued a $50.00 price objective (up previously from $37.00) on shares of Amer Sports in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.67.

Amer Sports Stock Performance

Shares of AS traded down $0.94 during midday trading on Friday, reaching $36.80. The stock had a trading volume of 12,714,663 shares, compared to its average volume of 2,846,747. The firm has a 50 day simple moving average of $27.29 and a 200-day simple moving average of $27.84. Amer Sports has a one year low of $10.11 and a one year high of $38.51. The firm has a market cap of $20.38 billion, a PE ratio of -262.80, a P/E/G ratio of 0.72 and a beta of 2.76. 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 (NYSE:AS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.12. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.38 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The company's quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. As a group, sell-side analysts anticipate that Amer Sports will post 0.46 EPS for the current year.

Institutional Trading of Amer Sports

Several large investors have recently made changes to their positions in AS. JPMorgan Chase & Co. acquired a new position in Amer Sports during the 3rd quarter worth approximately $25,000. Quarry LP acquired a new position in Amer Sports during the 1st quarter worth approximately $34,000. Colonial Trust Advisors bought a new stake in Amer Sports during the 1st quarter worth approximately $93,000. Sterling Capital Management LLC grew its holdings in 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 last quarter. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in Amer Sports during the 4th quarter worth approximately $104,000. Institutional investors and hedge funds own 40.25% of the company's stock.

Amer Sports Company Profile

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.