Amer Sports (NYSE:AS) Price Target Raised to $36.00

Amer Sports (NYSE:AS) had its target price lifted by Citigroup from $24.00 to $36.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Hsbc Global Res downgraded shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Morgan Stanley upped their price objective on shares of Amer Sports from $15.00 to $19.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. TD Cowen lifted their target price on Amer Sports from $23.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Nomura Securities raised Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Amer Sports Trading Up 2.8 %

NYSE:AS opened at $30.56 on Wednesday. The business’s 50-day moving average is $24.85 and its two-hundred day moving average is $17.86. The firm has a market capitalization of $16.70 billion and a PE ratio of -218.27. Amer Sports has a 12 month low of $10.11 and a 12 month high of $31.32. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77.

Hedge Funds Weigh In On Amer Sports

Several institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its stake in Amer Sports by 734.8% during the 3rd 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 during the period. Woodson Capital Management LP bought a new position in Amer Sports in the 3rd quarter worth approximately $12,907,000. Shellback Capital LP grew its holdings in Amer Sports by 5.0% in the 2nd quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock worth $6,599,000 after buying an additional 25,000 shares in the last quarter. XTX Topco Ltd acquired a new stake in Amer Sports in the 3rd quarter valued at approximately $609,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Amer Sports during the 3rd quarter valued at $337,000. 40.25% of the stock is 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.