Bank of America Forecasts Strong Price Appreciation for Amer Sports (NYSE:AS) Stock

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 research analysts at Bank of America from $42.00 to $45.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price target suggests a potential upside of 9.52% from the stock's previous close.

Several other equities analysts have also weighed in on the company. Citigroup restated a "buy" rating and issued a $42.00 price target (up previously from $30.00) on shares of Amer Sports in a research note on Wednesday, May 21st. The Goldman Sachs Group increased their target price on Amer Sports from $44.00 to $45.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Wells Fargo & Company set a $35.00 target price on Amer Sports and gave the company an "equal weight" rating in a report on Wednesday, May 21st. Robert W. Baird upped their price target on Amer Sports from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Finally, Wall Street Zen lowered Amer Sports from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $40.29.

Amer Sports Price Performance

Shares of Amer Sports stock traded down $0.39 on Wednesday, hitting $41.09. The company's stock had a trading volume of 2,089,693 shares, compared to its average volume of 4,057,034. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 1.60. Amer Sports has a 1 year low of $13.16 and a 1 year high of $42.36. The firm has a fifty day moving average price of $37.95 and a 200-day moving average price of $32.18. The company has a market capitalization of $22.76 billion, a price-to-earnings ratio of 100.27, a price-to-earnings-growth ratio of 1.39 and a beta of 3.31.

Amer Sports (NYSE:AS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.18 billion. During the same quarter in the previous year, the business earned $0.05 EPS. Amer Sports's revenue for the quarter 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, sell-side analysts anticipate that Amer Sports will post 0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hollencrest Capital Management purchased a new position in shares of Amer Sports during the second quarter worth $102,000. Headlands Technologies LLC raised its stake in shares of Amer Sports by 9,512.2% in the second quarter. Headlands Technologies LLC now owns 55,078 shares of the company's stock valued at $2,135,000 after acquiring an additional 54,505 shares in the last quarter. Rakuten Securities Inc. grew its stake in Amer Sports by 3,375.6% during the 2nd quarter. Rakuten Securities Inc. now owns 3,128 shares of the company's stock worth $121,000 after purchasing an additional 3,038 shares in the last quarter. Keel Point LLC acquired a new position in Amer Sports during the 2nd quarter worth $258,000. Finally, Vident Advisory LLC grew its stake in Amer Sports by 14.0% during the 2nd quarter. Vident Advisory LLC now owns 713,740 shares of the company's stock worth $27,665,000 after purchasing an additional 87,786 shares in the last quarter. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

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.