Citigroup Lowers Amer Sports (NYSE:AS) Price Target to $30.00

by · The Cerbat Gem

Amer Sports (NYSE:AS – Get Free Report) had its target price lowered by equities researchers at Citigroup from $36.00 to $30.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 25.23% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group decreased their target price on Amer Sports from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. UBS Group increased their target price on Amer Sports from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. TD Cowen lifted their price target on shares of Amer Sports from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised their price objective on shares of Amer Sports from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Wells Fargo & Company upped their target price on shares of Amer Sports from $25.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.82.

Read Our Latest Report on Amer Sports

Amer Sports Trading Down 0.9 %

AS traded down $0.23 during midday trading on Monday, reaching $23.96. 446,545 shares of the company were exchanged, compared to its average volume of 3,685,281. 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 stock has a market capitalization of $13.27 billion, a P/E ratio of -171.09, a PEG ratio of 0.72 and a beta of 2.66. The stock’s 50-day simple moving average is $26.20 and its 200 day simple moving average is $25.91. Amer Sports has a one year low of $10.11 and a one year high of $34.00.

Amer Sports (NYSE:AS – Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 23.2% on a year-over-year basis. As a group, analysts forecast that Amer Sports will post 0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vontobel Holding Ltd. acquired a new stake in shares of Amer Sports in the 1st quarter valued at approximately $245,000. Illinois Municipal Retirement Fund bought a new position in shares of Amer Sports in the 1st quarter valued at about $649,000. Lecap Asset Management Ltd. acquired a new position in shares of Amer Sports during the 1st quarter worth about $2,594,000. Friedenthal Financial bought a new stake in shares of Amer Sports in the 1st quarter valued at about $985,000. Finally, Handelsbanken Fonder AB lifted its stake in Amer Sports by 59.4% in the 1st quarter. Handelsbanken Fonder AB now owns 27,100 shares of the company’s stock valued at $724,000 after purchasing an additional 10,100 shares during the last quarter. 40.25% of the stock is currently owned by institutional investors.

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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