JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Amer Sports (NYSE:AS) Stock

Amer Sports (NYSE:AS) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $33.00 to $34.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 18.74% from the stock’s previous close.

AS has been the topic of a number of other research reports. HSBC lowered Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Monday, December 16th. Morgan Stanley upped their target price on Amer Sports from $19.00 to $27.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Wells Fargo & Company upped their target price on Amer Sports from $25.00 to $28.00 and gave the company an “equal weight” rating in a report on Wednesday. Robert W. Baird upped their target price on Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group upped their target price on Amer Sports from $28.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Amer Sports Trading Down 5.5 %

NYSE:AS opened at $28.64 on Wednesday. The firm has a market cap of $15.65 billion and a P/E ratio of -204.52. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The stock’s 50 day simple moving average is $30.08 and its 200-day simple moving average is $22.52. Amer Sports has a 12-month low of $10.11 and a 12-month high of $34.00.

Amer Sports (NYSE:AS) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.60 billion. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities analysts anticipate that Amer Sports will post 0.46 EPS for the current year.

Hedge Funds Weigh In On Amer Sports

Several hedge funds and other institutional investors have recently modified their holdings of AS. JPMorgan Chase & Co. acquired a new stake in Amer Sports during the 3rd quarter worth approximately $25,000. West Branch Capital LLC raised its holdings in Amer Sports by 14,285.7% in the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock valued at $28,000 after buying an additional 1,000 shares during the period. Kieckhefer Group LLC purchased a new position in Amer Sports in the fourth quarter valued at approximately $42,000. Signaturefd LLC purchased a new position in Amer Sports in the third quarter valued at approximately $49,000. Finally, GAMMA Investing LLC raised its holdings in Amer Sports by 61.8% in the fourth quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock valued at $54,000 after buying an additional 742 shares during the period. 40.25% of the stock is 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.