Citigroup Lowers Amer Sports (NYSE:AS) Price Target to $30.00

Amer Sports (NYSE:AS) had its price objective reduced by Citigroup from $36.00 to $30.00 in a research report released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other brokerages have also weighed in on AS. Morgan Stanley lifted their price target on Amer Sports from $19.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. TD Cowen lifted their price target on Amer Sports from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Sanford C. Bernstein began coverage on Amer Sports in a research note on Thursday, February 13th. They issued an “outperform” rating and a $38.00 price target for the company. The Goldman Sachs Group cut their price target on Amer Sports from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Amer Sports from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amer Sports has a consensus rating of “Moderate Buy” and a consensus price target of $31.45.

Amer Sports Stock Performance

NYSE AS opened at $24.23 on Monday. The stock has a 50-day simple moving average of $25.89 and a two-hundred day simple moving average of $25.92. The firm has a market capitalization of $13.42 billion, a P/E ratio of -173.06, a PEG ratio of 0.72 and a beta of 2.66. Amer Sports has a fifty-two week low of $10.11 and a fifty-two week high of $34.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62.

Amer Sports (NYSE:AS) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $1.64 billion during 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 revenue was up 23.2% compared to the same quarter last year. On average, equities analysts forecast that Amer Sports will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On Amer Sports

Several large investors have recently bought and sold shares of AS. FMR LLC boosted its holdings in shares of Amer Sports by 250.7% during the 4th quarter. FMR LLC now owns 26,414,511 shares of the company’s stock worth $738,550,000 after purchasing an additional 18,881,504 shares during the last quarter. Brilliance Asset Management Ltd. boosted its holdings in shares of Amer Sports by 5.1% during the 4th quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company’s stock worth $113,883,000 after purchasing an additional 196,380 shares during the last quarter. Candlestick Capital Management LP boosted its holdings in shares of Amer Sports by 1.7% during the 4th quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company’s stock worth $108,052,000 after purchasing an additional 63,078 shares during the last quarter. WT Asset Management Ltd boosted its holdings in shares of Amer Sports by 188.2% during the 4th quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company’s stock worth $100,834,000 after purchasing an additional 2,355,182 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Amer Sports by 262.5% during the 4th quarter. Marshall Wace LLP now owns 3,316,167 shares of the company’s stock worth $92,720,000 after purchasing an additional 2,401,302 shares during the last quarter. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

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.