Amer Sports, Inc. (NYSE:AS) Receives $18.50 Average PT from Brokerages

Shares of Amer Sports, Inc. (NYSE:AS) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $18.50.

A number of equities analysts recently commented on the company. Morgan Stanley dropped their price target on Amer Sports from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. UBS Group increased their target price on Amer Sports from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Evercore ISI restated an “outperform” rating and issued a $21.00 price target on shares of Amer Sports in a research report on Wednesday, August 21st.

Institutional Investors Weigh In On Amer Sports

Large investors have recently added to or reduced their stakes in the stock. SYSTM Wealth Solutions LLC bought a new stake in Amer Sports during the 1st quarter valued at $319,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Amer Sports during the first quarter valued at $1,521,000. Capstone Investment Advisors LLC purchased a new position in shares of Amer Sports during the first quarter valued at $7,301,000. Sei Investments Co. bought a new stake in shares of Amer Sports in the first quarter valued at about $968,000. Finally, Value Star Asset Management Hong Kong Ltd purchased a new stake in Amer Sports in the first quarter worth about $2,061,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

Amer Sports Trading Up 3.6 %

Shares of Amer Sports stock opened at $14.91 on Friday. Amer Sports has a fifty-two week low of $10.11 and a fifty-two week high of $18.23. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average of $12.43 and a 200 day moving average of $13.93.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 company had revenue of $993.80 million for the quarter, compared to the consensus estimate of $947.59 million. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts forecast that Amer Sports will post 0.43 earnings per share for the current fiscal year.

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.