Amer Sports (NYSE:AS) Price Target Raised to $28.00 at The Goldman Sachs Group

Amer Sports (NYSE:AS) had its price objective upped by The Goldman Sachs Group from $24.00 to $28.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 8.53% from the company’s current price.

Several other equities analysts also recently weighed in on AS. JPMorgan Chase & Co. increased their target price on Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. UBS Group raised their price objective on Amer Sports from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Wells Fargo & Company raised their price objective on Amer Sports from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Citigroup raised their price objective on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Evercore ISI restated an “outperform” rating and issued a $26.00 price objective (up from $25.00) on shares of Amer Sports in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.79.

Amer Sports Stock Performance

NYSE AS opened at $25.80 on Tuesday. The business’s 50-day moving average price is $20.39 and its 200 day moving average price is $15.80. Amer Sports has a twelve month low of $10.11 and a twelve month high of $26.85. The company has a market capitalization of $14.10 billion and a PE ratio of -184.27. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58.

Institutional Investors Weigh In On Amer Sports

A number of hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in Amer Sports by 71.2% during the 3rd quarter. FMR LLC now owns 7,533,007 shares of the company’s stock valued at $120,151,000 after purchasing an additional 3,133,312 shares in the last quarter. Hood River Capital Management LLC grew its stake in Amer Sports by 32.9% during the 2nd quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company’s stock valued at $48,983,000 after purchasing an additional 965,625 shares in the last quarter. Point72 Hong Kong Ltd grew its stake in Amer Sports by 557.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock valued at $41,161,000 after purchasing an additional 2,776,619 shares in the last quarter. Point72 Asset Management L.P. grew its stake in 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 valued at $39,045,000 after purchasing an additional 2,345,420 shares in the last quarter. Finally, WCM Investment Management LLC grew its stake in Amer Sports by 29.9% during the 3rd quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company’s stock valued at $21,787,000 after purchasing an additional 306,001 shares in the last quarter. Institutional investors and hedge funds 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.