Wells Fargo & Company Issues Positive Forecast for Amer Sports (NYSE:AS) Stock Price

Amer Sports (NYSE:AS) had its price target hoisted by Wells Fargo & Company from $24.00 to $25.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities research analysts have also commented on AS. UBS Group upped their price target on shares of Amer Sports from $37.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Sanford C. Bernstein started coverage on shares of Amer Sports in a research note on Thursday, February 13th. They issued an “outperform” rating and a $38.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Amer Sports from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Citigroup decreased their target price on shares of Amer Sports from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Finally, The Goldman Sachs Group cut their price target on shares of Amer Sports from $33.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Four 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 company. According to data from MarketBeat.com, Amer Sports has a consensus rating of “Moderate Buy” and an average price target of $31.55.

Amer Sports Stock Performance

Shares of AS stock opened at $31.16 on Wednesday. The business’s fifty day simple moving average is $25.59 and its 200-day simple moving average is $26.54. The company has a market cap of $17.26 billion, a PE ratio of -222.56, a PEG ratio of 0.72 and a beta of 2.76. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. Amer Sports has a 12-month low of $10.11 and a 12-month high of $34.00.

Amer Sports (NYSE:AS) last released its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.60 billion. The firm’s revenue was up 23.2% on a year-over-year basis. Analysts expect that Amer Sports will post 0.46 earnings per share for the current fiscal year.

Institutional Trading of Amer Sports

Several institutional investors have recently added to or reduced their stakes in AS. FMR LLC increased its holdings in Amer Sports by 250.7% in the 4th quarter. FMR LLC now owns 26,414,511 shares of the company’s stock valued at $738,550,000 after purchasing an additional 18,881,504 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Amer Sports by 262.5% in the fourth quarter. Marshall Wace LLP now owns 3,316,167 shares of the company’s stock worth $92,720,000 after acquiring an additional 2,401,302 shares in the last quarter. Junto Capital Management LP acquired a new position in shares of Amer Sports in the fourth quarter worth $66,793,000. WT Asset Management Ltd grew its stake in shares of Amer Sports by 188.2% in the fourth quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company’s stock worth $100,834,000 after acquiring an additional 2,355,182 shares in the last quarter. Finally, Oxbow Capital Management HK Ltd acquired a new position in shares of Amer Sports in the fourth quarter worth $41,940,000. Institutional investors and hedge funds own 40.25% of the company’s stock.

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.