Amer Sports (NYSE:AS) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Amer Sports (NYSE:AS) was upgraded to a "buy" rating by Wall Street Zen, indicating increased investor confidence.
• Analysts have recently raised target prices for Amer Sports shares, with Bank of America setting a new price target of $46.00 and JPMorgan Chase increasing it to $53.00.
• The company's earnings exceeded expectations in its latest quarter, reporting $0.06 earnings per share and $1.24 billion in revenue.

Amer Sports (NYSE:AS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also recently weighed in on the stock. Bank of America upped their target price on shares of Amer Sports from $45.00 to $46.00 and gave the company a "buy" rating in a research note on Friday, September 19th. JPMorgan Chase & Co. upped their target price on shares of Amer Sports from $46.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, September 19th. The Goldman Sachs Group upped their price objective on shares of Amer Sports from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. KGI Securities set a $44.30 price objective on shares of Amer Sports and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Finally, Wells Fargo & Company upped their price objective on shares of Amer Sports from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.49.

Amer Sports Stock Performance

NYSE AS opened at $30.77 on Friday. The stock has a market cap of $17.04 billion, a P/E ratio of 75.04, a PEG ratio of 0.98 and a beta of 3.04. The company's 50-day simple moving average is $36.19 and its 200 day simple moving average is $34.05. Amer Sports has a twelve month low of $17.32 and a twelve month high of $42.36. The company has a quick ratio of 0.61, a current ratio of 1.60 and a debt-to-equity ratio of 0.24.

Amer Sports (NYSE:AS - Get Free Report) last posted its earnings results on Tuesday, August 19th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.18 billion. Amer Sports had a net margin of 3.93% and a return on equity of 6.87%. The firm's revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Amer Sports has set its FY 2025 guidance at 0.770-0.820 EPS. Q3 2025 guidance at 0.200-0.220 EPS. As a group, research analysts forecast that Amer Sports will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amer Sports

Large investors have recently modified their holdings of the stock. Citigroup Inc. lifted its position in shares of Amer Sports by 1,402.2% during the first quarter. Citigroup Inc. now owns 441,628 shares of the company's stock worth $11,805,000 after purchasing an additional 412,229 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Amer Sports by 25.9% in the 1st quarter. Deutsche Bank AG now owns 1,160,491 shares of the company's stock valued at $31,020,000 after buying an additional 238,937 shares during the period. Vontobel Holding Ltd. acquired a new position in shares of Amer Sports in the 1st quarter valued at $245,000. Entropy Technologies LP bought a new stake in shares of Amer Sports during the first quarter worth $995,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Amer Sports during the second quarter worth $6,032,000. 40.25% of the stock is currently owned by institutional investors and hedge funds.

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.

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