Amer Sports (NYSE:AS) Given New $27.00 Price Target at UBS Group

by · The Cerbat Gem

Amer Sports (NYSE:AS – Get Free Report) had its target price lifted by equities research analysts at UBS Group from $24.00 to $27.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 27.90% from the company’s previous close.

Several other research analysts have also issued reports on the company. TD Cowen increased their price target on Amer Sports from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group increased their target price on Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. boosted their price target on shares of Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Morgan Stanley lifted their price objective on shares of Amer Sports from $15.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.43.

Check Out Our Latest Stock Analysis on AS

Amer Sports Price Performance

NYSE AS traded up $0.44 on Wednesday, hitting $21.11. 1,364,285 shares of the company were exchanged, compared to its average volume of 1,713,634. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average of $17.57 and a 200-day moving average of $14.81. Amer Sports has a 12 month low of $10.11 and a 12 month high of $21.69.

Amer Sports (NYSE:AS – Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The company had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, research analysts expect that Amer Sports will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Amer Sports

Hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC purchased a new stake in shares of Amer Sports during the third quarter valued at approximately $49,000. Quarry LP purchased a new stake in shares of Amer Sports during the 3rd quarter valued at $61,000. CWM LLC bought a new stake in shares of Amer Sports during the 3rd quarter worth $73,000. Dnca Finance bought a new stake in shares of Amer Sports during the 2nd quarter worth $81,000. Finally, Amalgamated Bank bought a new position in Amer Sports during the second quarter valued at about $83,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Amer Sports Company Profile

(Get Free Report)

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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