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

Amer Sports (NYSE:AS) had its price target lifted by Morgan Stanley from $19.00 to $27.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

AS has been the subject of a number of other research reports. Robert W. Baird increased their price target on Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, December 9th. UBS Group increased their price target on Amer Sports from $27.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. TD Cowen raised their target price on Amer Sports from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group raised their target price on Amer Sports from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Hsbc Global Res cut Amer Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Five 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 company. Based on data from MarketBeat, Amer Sports has a consensus rating of “Moderate Buy” and an average target price of $27.07.

Amer Sports Price Performance

Shares of NYSE AS opened at $30.84 on Tuesday. The company has a market capitalization of $16.85 billion and a price-to-earnings ratio of -220.27. Amer Sports has a 1-year low of $10.11 and a 1-year high of $31.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The business has a 50-day moving average of $27.05 and a 200-day moving average of $19.05.

Hedge Funds Weigh In On Amer Sports

Hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Amer Sports by 71.2% during the 3rd quarter. FMR LLC now owns 7,533,007 shares of the company’s stock worth $120,151,000 after acquiring an additional 3,133,312 shares in the last quarter. Point72 Hong Kong Ltd boosted its stake in shares of Amer Sports by 557.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock worth $41,161,000 after acquiring an additional 2,776,619 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Amer Sports by 308.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock worth $39,045,000 after acquiring an additional 2,345,420 shares in the last quarter. WCM Investment Management LLC boosted its stake in shares of Amer Sports by 29.9% during the 3rd quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company’s stock worth $21,787,000 after acquiring an additional 306,001 shares in the last quarter. Finally, WT Asset Management Ltd boosted its stake in shares of Amer Sports by 104.4% during the 3rd quarter. WT Asset Management Ltd now owns 1,251,181 shares of the company’s stock worth $19,956,000 after acquiring an additional 638,939 shares in the last quarter. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Amer Sports Company Profile

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.