Amer Sports (NYSE:AS) Price Target Lowered to $28.00 at The Goldman Sachs Group

Amer Sports (NYSE:AS - Get Free Report) had its price target cut by equities research analysts at The Goldman Sachs Group from $33.00 to $28.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective would indicate a potential upside of 15.80% from the stock's previous close.

AS has been the subject of several other reports. Wells Fargo & Company lifted their price target on Amer Sports from $25.00 to $28.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Morgan Stanley boosted their target price on shares of Amer Sports from $19.00 to $27.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. TD Cowen raised their price target on shares of Amer Sports from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price objective on shares of Amer Sports from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, UBS Group raised their target price on shares of Amer Sports from $37.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Amer Sports has a consensus rating of "Moderate Buy" and an average target price of $32.36.

Amer Sports Stock Performance

AS stock traded up $0.10 during midday trading on Tuesday, reaching $24.18. 1,919,345 shares of the company were exchanged, compared to its average volume of 2,524,722. Amer Sports has a one year low of $10.11 and a one year high of $34.00. The firm has a market capitalization of $13.39 billion, a price-to-earnings ratio of -172.70, a price-to-earnings-growth ratio of 0.72 and a beta of 2.66. The business has a 50-day moving average price of $26.20 and a two-hundred day moving average price of $25.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77.

Amer Sports (NYSE:AS - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The business's revenue was up 23.2% compared to the same quarter last year. Equities research analysts forecast that Amer Sports will post 0.46 EPS for the current year.

Institutional Investors Weigh In On Amer Sports

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Element Capital Management LLC acquired a new position in shares of Amer Sports during the 4th quarter worth $357,000. State Street Corp raised its stake in Amer Sports by 65.1% during the third quarter. State Street Corp now owns 884,526 shares of the company's stock worth $14,108,000 after acquiring an additional 348,877 shares in the last quarter. GAM Holding AG bought a new position in shares of Amer Sports in the fourth quarter worth about $13,460,000. Renaissance Capital LLC lifted its holdings in shares of Amer Sports by 116.2% in the fourth quarter. Renaissance Capital LLC now owns 135,697 shares of the company's stock worth $3,794,000 after acquiring an additional 72,936 shares during the last quarter. Finally, Pamalican Asset Management Ltd acquired a new stake in shares of Amer Sports in the 4th quarter valued at approximately $20,970,000. 40.25% of the stock is currently owned by institutional investors.

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.