JPMorgan Chase & Co. Raises Amer Sports (NYSE:AS) Price Target to $34.00

Amer Sports (NYSE:AS) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $33.00 to $34.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 18.74% from the stock’s previous close.

A number of other analysts also recently issued reports on AS. HSBC downgraded Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Monday, December 16th. Robert W. Baird raised their price objective on Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Citigroup raised their price objective on Amer Sports from $24.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Hsbc Global Res downgraded Amer Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, Morgan Stanley lifted their target price on Amer Sports from $19.00 to $27.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amer Sports has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Amer Sports Stock Down 5.5 %

NYSE AS opened at $28.64 on Wednesday. Amer Sports has a 52 week low of $10.11 and a 52 week high of $34.00. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $30.08 and its 200-day simple moving average is $22.52. The firm has a market cap of $15.65 billion and a PE ratio of -204.52.

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

Hedge Funds Weigh In On Amer Sports

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. purchased a new position in shares of Amer Sports in the 3rd quarter valued at about $25,000. West Branch Capital LLC boosted its stake in shares of Amer Sports by 14,285.7% in the 4th 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 shares of Amer Sports in the 4th quarter valued at about $42,000. Signaturefd LLC purchased a new position in shares of Amer Sports in the 3rd quarter valued at about $49,000. Finally, GAMMA Investing LLC boosted its stake in shares of Amer Sports by 61.8% in the 4th 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. Hedge funds and other institutional investors own 40.25% of the company’s stock.

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.