Amer Sports (NYSE:AS) Price Target Raised to $46.00

Key Points

• Bank of America has raised its target price for Amer Sports from $45.00 to $46.00, indicating a potential upside of 21.12% from the current stock price and maintaining a "buy" rating.
• Several other brokerages, including UBS Group and Piper Sandler, have also issued positive ratings and price targets for Amer Sports, with UBS raising its target from $50.00 to $52.00.
• Amer Sports reported a 23.4% year-over-year increase in revenue for the last quarter, along with earnings per share of $0.06, surpassing analysts' estimates of $0.02.

Amer Sports (NYSE:AS - Get Free Report) had its price objective lifted by analysts at Bank of America from $45.00 to $46.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price target would indicate a potential upside of 22.80% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Amer Sports from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. UBS Group increased their price objective on shares of Amer Sports from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Piper Sandler began coverage on shares of Amer Sports in a research report on Thursday, June 26th. They set an "overweight" rating and a $45.00 price objective on the stock. Robert W. Baird increased their price objective on shares of Amer Sports from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Finally, The Goldman Sachs Group increased their price objective on shares of Amer Sports from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $42.75.

Amer Sports Stock Down 1.1%

AS traded down $0.42 during midday trading on Friday, reaching $37.46. The company's stock had a trading volume of 4,391,579 shares, compared to its average volume of 3,900,766. The firm has a market capitalization of $20.75 billion, a price-to-earnings ratio of 91.37, a PEG ratio of 1.25 and a beta of 3.30. The company has a current ratio of 1.60, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. Amer Sports has a 1 year low of $14.68 and a 1 year high of $42.36. The stock's 50-day moving average is $38.11 and its 200-day moving average is $33.31.

Amer Sports (NYSE:AS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The company reported $0.06 earnings per share for the quarter, topping 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 business's revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $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 expect that Amer Sports will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Scopus Asset Management L.P. bought a new stake in shares of Amer Sports during the 2nd quarter valued at $108,562,000. Qube Research & Technologies Ltd raised its position in shares of Amer Sports by 139.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 3,887,480 shares of the company's stock valued at $150,679,000 after purchasing an additional 2,267,066 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Amer Sports during the 2nd quarter valued at $87,287,000. BNP Paribas Financial Markets raised its position in shares of Amer Sports by 244.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,533,612 shares of the company's stock valued at $98,203,000 after purchasing an additional 1,798,170 shares during the period. Finally, Norges Bank bought a new stake in shares of Amer Sports during the 2nd quarter valued at $60,855,000. 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.