The Goldman Sachs Group Issues Positive Forecast for Amer Sports (NYSE:AS) Stock Price

Amer Sports (NYSE:AS - Get Free Report) had its price objective boosted by research analysts at The Goldman Sachs Group from $44.00 to $45.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's price objective points to a potential upside of 22.26% from the company's previous close.

A number of other research firms have also weighed in on AS. TD Securities increased their price objective on Amer Sports from $30.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Wall Street Zen raised Amer Sports from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. KGI Securities set a $44.30 price target on Amer Sports and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Citigroup reaffirmed 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. Finally, Piper Sandler started coverage on Amer Sports in a research note on Thursday, June 26th. They issued an "overweight" rating and a $45.00 price target for the company. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.88.

Amer Sports Stock Down 2.4%

Shares of NYSE AS traded down $0.92 during trading on Tuesday, hitting $36.81. The stock had a trading volume of 2,606,457 shares, compared to its average volume of 3,526,036. Amer Sports has a 12 month low of $10.11 and a 12 month high of $40.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 0.80. The company has a market capitalization of $20.38 billion, a PE ratio of 60.85, a PEG ratio of 1.54 and a beta of 3.36. The firm has a fifty day moving average of $37.30 and a two-hundred day moving average of $31.08.

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

Hedge Funds Weigh In On Amer Sports

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new stake in Amer Sports in the 1st quarter worth about $34,000. Colonial Trust Advisors purchased a new position in Amer Sports in the first quarter worth about $93,000. Sterling Capital Management LLC boosted its position in Amer Sports by 55.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock worth $97,000 after purchasing an additional 1,250 shares during the last quarter. GAMMA Investing LLC boosted its position in Amer Sports by 17.4% in the second quarter. GAMMA Investing LLC now owns 2,614 shares of the company's stock worth $101,000 after purchasing an additional 387 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Amer Sports by 19.1% in the first quarter. Signaturefd LLC now owns 4,925 shares of the company's stock worth $132,000 after purchasing an additional 789 shares during the last quarter. 40.25% of the stock is currently owned by 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.