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

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

AS has been the subject of several other research reports. The Goldman Sachs Group lifted their price objective on shares of Amer Sports from $28.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Morgan Stanley lifted their price objective on shares of Amer Sports from $28.00 to $33.00 and gave the company an "equal weight" 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 company an "equal weight" rating in a research note on Wednesday, May 21st. Sanford C. Bernstein assumed coverage on shares of Amer Sports in a research note on Thursday, February 13th. They issued an "outperform" rating and a $38.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Amer Sports from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Amer Sports currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.67.

Amer Sports Trading Up 3.7%

NYSE:AS traded up $1.36 on Friday, reaching $38.40. 3,240,903 shares of the stock traded hands, compared to its average volume of 2,792,307. The firm has a market capitalization of $21.27 billion, a price-to-earnings ratio of -274.27, a price-to-earnings-growth ratio of 0.72 and a beta of 2.76. The company's 50 day moving average is $26.78 and its 200-day moving average is $27.58. 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 $38.93.

Amer Sports (NYSE:AS - Get Free Report) last released its earnings results on Tuesday, May 20th. The company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.12. The business 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 revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. Equities research analysts anticipate that Amer Sports will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

A number of hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its stake in shares of Amer Sports by 44.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,173,674 shares of the company's stock worth $31,372,000 after purchasing an additional 358,536 shares during the period. Temasek Holdings Private Ltd bought a new stake in shares of Amer Sports during the 1st quarter worth $10,081,000. Tiger Pacific Capital LP bought a new stake in shares of Amer Sports during the 1st quarter worth $8,316,000. Samlyn Capital LLC raised its stake in shares of Amer Sports by 10.8% during the 1st quarter. Samlyn Capital LLC now owns 1,634,448 shares of the company's stock worth $43,689,000 after purchasing an additional 159,848 shares during the period. Finally, Petrus Trust Company LTA bought a new stake in shares of Amer Sports during the 1st quarter worth $361,000. 40.25% of the stock is currently owned by institutional investors.

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.