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 objective increased by equities researchers at JPMorgan Chase & Co. from $45.00 to $46.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 22.15% from the stock's current price.

Several other equities analysts have also commented on AS. Piper Sandler assumed coverage on Amer Sports in a research note on Thursday, June 26th. They set an "overweight" rating and a $45.00 price target on the stock. UBS Group restated a "buy" rating and set a $50.00 price target (up previously from $37.00) on shares of Amer Sports in a research note on Wednesday, May 21st. Citigroup restated a "buy" rating and set a $42.00 price target (up previously from $30.00) on shares of Amer Sports in a research note on Wednesday, May 21st. TD Securities raised their price target on Amer Sports from $30.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, The Goldman Sachs Group raised their price target on Amer Sports from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amer Sports currently has a consensus rating of "Moderate Buy" and an average target price of $38.74.

Amer Sports Trading Down 3.1%

Shares of AS traded down $1.19 during trading hours on Monday, reaching $37.66. 1,641,348 shares of the company traded hands, compared to its average volume of 3,957,789. The firm has a market cap of $20.86 billion, a price-to-earnings ratio of 101.71, a PEG ratio of 1.56 and a beta of 3.36. Amer Sports has a 12-month low of $10.11 and a 12-month 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's fifty day moving average price is $37.76 and its 200 day moving average price is $31.35.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AS. Quarry LP purchased a new position in Amer Sports in the 1st quarter worth $34,000. GAMMA Investing LLC boosted its holdings in Amer Sports by 17.4% in the second 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 Amer Sports in the first quarter valued at $93,000. Sterling Capital Management LLC raised its stake 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 buying an additional 1,250 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Amer Sports during the 2nd quarter valued at about $189,000. 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.