Amer Sports (NYSE:AS) Given a $35.00 Price Target at Wells Fargo & Company

Amer Sports (NYSE:AS - Get Free Report) received a $35.00 price target from research analysts at Wells Fargo & Company in a report released on Wednesday, MarketBeat reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective suggests a potential downside of 5.70% from the stock's current price.

AS has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price target on shares of Amer Sports from $33.00 to $34.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Sanford C. Bernstein initiated coverage on shares of Amer Sports in a research note on Thursday, February 13th. They issued an "outperform" rating and a $38.00 price objective on the stock. The Goldman Sachs Group decreased their target price on shares of Amer Sports from $33.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. UBS Group reaffirmed a "buy" rating and issued a $50.00 price target (up from $37.00) on shares of Amer Sports in a report on Wednesday, May 21st. Finally, Morgan Stanley lifted their target price on shares of Amer Sports from $19.00 to $27.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.67.

Amer Sports Stock Performance

AS stock traded down $0.38 during midday trading on Wednesday, reaching $37.12. The stock had a trading volume of 2,969,817 shares, compared to its average volume of 2,790,506. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. The firm has a fifty day simple moving average of $26.62 and a two-hundred day simple moving average of $27.46. The stock has a market cap of $20.56 billion, a PE ratio of -265.09, a P/E/G ratio of 0.72 and a beta of 2.76. Amer Sports has a 52-week low of $10.11 and a 52-week high of $38.42.

Amer Sports (NYSE:AS - Get Free Report) last announced its quarterly earnings data 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. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the business posted $0.08 earnings per share. The company's revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Amer Sports will post 0.46 EPS for the current year.

Hedge Funds Weigh In On Amer Sports

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of Amer Sports by 957.6% during the 4th quarter. Bank of America Corp DE now owns 384,705 shares of the company's stock worth $10,756,000 after purchasing an additional 348,329 shares during the last quarter. Element Capital Management LLC acquired a new stake in Amer Sports in the 4th quarter worth about $357,000. GAM Holding AG purchased a new stake in Amer Sports in the fourth quarter valued at approximately $13,460,000. Renaissance Capital LLC grew its stake in shares of Amer Sports by 116.2% during the 4th quarter. Renaissance Capital LLC now owns 135,697 shares of the company's stock valued at $3,794,000 after buying an additional 72,936 shares during the period. Finally, Pamalican Asset Management Ltd purchased a new stake in Amer Sports during the fourth quarter valued at about $20,970,000. 40.25% of the stock is owned by hedge funds and other 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.