Amer Sports (NYSE:AS) Price Target Raised to $27.00

Amer Sports (NYSE:AS) had its target price hoisted by Morgan Stanley from $19.00 to $27.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

AS has been the topic of several other research reports. Hsbc Global Res lowered Amer Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Nomura Securities raised Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Evercore ISI raised their target price on Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. HSBC downgraded Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. raised their price objective on Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.07.

Amer Sports Stock Performance

AS opened at $30.84 on Tuesday. The firm’s 50-day moving average price is $27.05 and its 200-day moving average price is $19.05. The company has a market cap of $16.85 billion and a P/E ratio of -220.27. Amer Sports has a 52-week low of $10.11 and a 52-week high of $31.60. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AS. Amalgamated Bank purchased a new stake in shares of Amer Sports in the second quarter valued at approximately $83,000. Sei Investments Co. lifted 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 acquiring an additional 13,748 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of 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 acquiring an additional 2,345,420 shares in the last quarter. Point72 Hong Kong Ltd increased its stake in Amer Sports by 557.7% in the second 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 during the last quarter. Finally, Shellback Capital LP increased its stake in Amer Sports by 5.0% in the second quarter. Shellback Capital LP now owns 525,000 shares of the company’s stock valued at $6,599,000 after purchasing an additional 25,000 shares during 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.