Amer Sports (NYSE:AS) PT Raised to $21.00 at TD Cowen

Amer Sports (NYSE:ASFree Report) had its price target boosted by TD Cowen from $17.00 to $21.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently commented on the company. Evercore ISI restated an “outperform” rating and set a $21.00 target price on shares of Amer Sports in a report on Wednesday, August 21st. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Wells Fargo & Company cut shares of Amer Sports from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $17.00 to $19.00 in a report on Monday. Finally, UBS Group increased their target price on shares of Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Four equities 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 price target of $18.86.

View Our Latest Stock Report on AS

Amer Sports Stock Down 1.2 %

NYSE AS opened at $18.39 on Tuesday. The stock has a fifty day simple moving average of $14.98 and a 200-day simple moving average of $14.12. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. Amer Sports has a twelve month low of $10.11 and a twelve month high of $19.73.

Amer Sports (NYSE:ASGet Free Report) last announced its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $947.59 million. The company’s revenue was up 16.0% on a year-over-year basis. On average, sell-side analysts expect that Amer Sports will post 0.43 earnings per share for the current year.

Hedge Funds Weigh In On Amer Sports

Several large investors have recently bought and sold shares of the business. Hood River Capital Management LLC acquired a new position in shares of Amer Sports during the 1st quarter worth about $47,778,000. Point72 Hong Kong Ltd lifted its stake in Amer Sports by 557.7% during the second quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock worth $41,161,000 after purchasing an additional 2,776,619 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Amer Sports by 308.3% in the second quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock valued at $39,045,000 after purchasing an additional 2,345,420 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in Amer Sports in the first quarter valued at approximately $7,301,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Amer Sports during the first quarter worth approximately $5,705,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Amer Sports Company Profile

(Get Free Report)

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.

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