Amer Sports (NYSE:AS) Stock Price Expected to Rise, Citigroup Analyst Says

Amer Sports (NYSE:AS) had its price target boosted by Citigroup from $19.00 to $24.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company lowered Amer Sports from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $17.00 to $19.00 in a research report on Monday, October 14th. Nomura Securities raised Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. The Goldman Sachs Group raised their target price on Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. TD Cowen raised their target price on Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, UBS Group raised their target price on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.57.

Amer Sports Stock Down 1.1 %

NYSE:AS traded down $0.22 during trading hours on Tuesday, reaching $19.70. 76,161 shares of the company were exchanged, compared to its average volume of 1,669,018. Amer Sports has a 1-year low of $10.11 and a 1-year high of $20.68. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average of $17.11 and a 200 day moving average of $14.66.

Amer Sports (NYSE:AS) last released its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.11. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The firm had revenue of $993.80 million during the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports’s revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts anticipate that Amer Sports will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Amer Sports

Hedge funds and other institutional investors have recently bought and sold shares of the business. PDT Partners LLC purchased a new stake in shares of Amer Sports during the third quarter valued at approximately $1,698,000. Verition Fund Management LLC bought a new stake in Amer Sports during the third quarter valued at approximately $301,000. Woodson Capital Management LP bought a new stake in Amer Sports during the third quarter valued at approximately $12,907,000. Walleye Capital LLC purchased a new position in Amer Sports during the third quarter valued at approximately $274,000. Finally, BNP Paribas Financial Markets lifted its holdings in Amer Sports by 734.8% during the third quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock valued at $1,288,000 after purchasing an additional 71,086 shares in the last quarter. Hedge funds and other institutional investors own 40.25% of the company’s stock.

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.