Citigroup Issues Positive Forecast for Amer Sports (NYSE:AS) Stock Price

Amer Sports (NYSE:AS) had its target price lifted by Citigroup from $24.00 to $36.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on AS. JPMorgan Chase & Co. raised their price target on Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Evercore ISI raised their price target on Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. UBS Group upped their target price on Amer Sports from $27.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Robert W. Baird upped their price target on shares of Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Morgan Stanley raised their price objective on Amer Sports from $15.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Amer Sports has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Amer Sports Stock Up 2.8 %

Shares of AS stock opened at $30.56 on Wednesday. The company’s fifty day simple moving average is $24.85 and its two-hundred day simple moving average is $17.86. Amer Sports has a 52 week low of $10.11 and a 52 week high of $31.32. The stock has a market cap of $16.70 billion and a P/E ratio of -218.27. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

Hedge Funds Weigh In On Amer Sports

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in Amer Sports during the 2nd quarter worth approximately $3,164,000. Rhumbline Advisers acquired a new stake in Amer Sports during the 2nd quarter valued at $1,142,000. Amalgamated Bank purchased a new stake in Amer Sports during the 2nd quarter worth about $83,000. Sei Investments Co. raised its position in shares of Amer Sports by 23.1% in the second quarter. Sei Investments Co. now owns 73,141 shares of the company’s stock valued at $919,000 after buying an additional 13,748 shares during the last quarter. Finally, Hood River Capital Management LLC raised its holdings in Amer Sports by 32.9% in 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 acquiring an additional 965,625 shares during the last quarter. 40.25% of the stock is owned by institutional investors and hedge funds.

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.