Bank of America Increases Amer Sports (NYSE:AS) Price Target to $45.00

Key Points

• Bank of America has raised its price target for Amer Sports from $42.00 to $45.00, indicating a potential upside of 25.86% from the current trading price.
• Other brokerages, including UBS Group, have also increased their price targets for Amer Sports, with UBS setting a target of $50.00, up from $37.00.
• Amer Sports recently reported earnings of $0.06 per share, exceeding analyst estimates, and generated $1.24 billion in revenue for the quarter, reflecting a year-over-year growth of 23.4%.

Amer Sports (NYSE:AS - Get Free Report) had its target price boosted by equities researchers at Bank of America from $42.00 to $45.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's target price points to a potential upside of 8.43% from the company's previous close.

A number of other brokerages have also recently issued reports on AS. Wells Fargo & Company set a $35.00 target price on shares of Amer Sports and gave the company an "equal weight" rating in a report on Wednesday, May 21st. Robert W. Baird boosted their price target on Amer Sports from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday. Piper Sandler initiated coverage on Amer Sports in a research report on Thursday, June 26th. They issued an "overweight" rating and a $45.00 price objective for the company. The Goldman Sachs Group lifted their target price on Amer Sports from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Finally, UBS Group restated a "buy" rating and issued a $50.00 price target (up previously from $37.00) on shares of Amer Sports in a research note on Wednesday, May 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $40.29.

Amer Sports Stock Up 11.6%

NYSE:AS traded up $4.30 on Wednesday, hitting $41.50. 9,367,222 shares of the company's stock were exchanged, compared to its average volume of 4,178,347. Amer Sports has a 52 week low of $13.16 and a 52 week high of $41.56. The company has a market cap of $22.98 billion, a P/E ratio of 101.22, a price-to-earnings-growth ratio of 1.24 and a beta of 3.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.60 and a quick ratio of 0.80. The firm has a 50-day moving average price of $37.95 and a 200-day moving average price of $32.18.

Amer Sports (NYSE:AS - Get Free Report) last posted its quarterly 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. Amer Sports had a return on equity of 6.87% and a net margin of 3.93%.The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the company earned $0.05 earnings per share. The business's revenue was up 23.4% compared to the same quarter last year. 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, analysts expect that Amer Sports will post 0.46 EPS for the current fiscal year.

Institutional Trading of Amer Sports

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its position in shares of Amer Sports by 957.6% during the 4th quarter. Bank of America Corp DE now owns 384,705 shares of the company's stock worth $10,756,000 after purchasing an additional 348,329 shares in the last quarter. Citigroup Inc. increased its stake in Amer Sports by 1,402.2% during the 1st quarter. Citigroup Inc. now owns 441,628 shares of the company's stock worth $11,805,000 after acquiring an additional 412,229 shares during the period. Deutsche Bank AG increased its stake in Amer Sports by 25.9% during the 1st quarter. Deutsche Bank AG now owns 1,160,491 shares of the company's stock worth $31,020,000 after acquiring an additional 238,937 shares during the period. Vontobel Holding Ltd. acquired a new position in Amer Sports in the 1st quarter valued at $245,000. Finally, Handelsbanken Fonder AB lifted its position in shares of Amer Sports by 59.4% during the 1st quarter. Handelsbanken Fonder AB now owns 27,100 shares of the company's stock valued at $724,000 after acquiring an additional 10,100 shares during the period. 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.