JPMorgan Chase & Co. Issues Positive Forecast for Amer Sports (NYSE:AS) Stock Price

Key Points

• JPMorgan Chase & Co. has raised the price target for Amer Sports stock from $45.00 to $46.00, reflecting a potential upside of 22.11% from its current price.
• Analyst ratings for Amer Sports show significant optimism, with a consensus rating of "Moderate Buy" and a target price of $38.74, supported by upgrades from multiple firms.
• Amer Sports reported a strong quarterly earnings performance, with $0.27 EPS exceeding estimates, and revenue growth of 24.5% year-over-year.

Amer Sports (NYSE:AS - Get Free Report) had its price target increased by equities researchers at JPMorgan Chase & Co. from $45.00 to $46.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 22.11% from the company's current price.

Several other analysts have also commented on the stock. TD Securities raised their price objective on shares of Amer Sports from $30.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Wall Street Zen upgraded shares of Amer Sports from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Wells Fargo & Company set a $35.00 price objective on shares of Amer Sports and gave the stock an "equal weight" rating in a report on Wednesday, May 21st. Morgan Stanley raised their price objective on shares of Amer Sports from $28.00 to $33.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 21st. Finally, KGI Securities set a $44.30 price objective on shares of Amer Sports and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.74.

Amer Sports Trading Up 2.3%

NYSE AS opened at $37.67 on Monday. Amer Sports has a 1-year low of $10.11 and a 1-year high of $40.21. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average of $37.55 and a 200-day moving average of $31.20. The firm has a market cap of $20.86 billion, a PE ratio of 101.81, a price-to-earnings-growth ratio of 1.54 and a beta of 3.36.

Amer Sports (NYSE:AS - Get Free Report) last posted its earnings results on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.38 billion. Amer Sports had a return on equity of 7.21% and a net margin of 3.70%. Amer Sports's quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the firm earned $0.08 earnings per share. As a group, sell-side analysts forecast that Amer Sports will post 0.46 EPS for the current year.

Institutional Trading of Amer Sports

A number of institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Amer Sports during the 1st quarter valued at about $34,000. GAMMA Investing LLC increased its position in shares of Amer Sports by 17.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,614 shares of the company's stock valued at $101,000 after purchasing an additional 387 shares during the last quarter. Colonial Trust Advisors purchased a new stake in shares of Amer Sports during the 1st quarter valued at about $93,000. Sterling Capital Management LLC increased its position in shares of Amer Sports by 55.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock valued at $97,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Amer Sports during the 2nd quarter valued at about $189,000. Hedge funds and other institutional investors own 40.25% of the company's stock.

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.

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