Nomura Securities Upgrades Amer Sports (NYSE:AS) to Strong-Buy

Nomura Securities upgraded shares of Amer Sports (NYSE:AS) to a strong-buy rating in a research report report published on Tuesday morning, Zacks.com reports.

AS has been the subject of a number of other reports. UBS Group upped their price objective on Amer Sports from $17.00 to $19.00 and gave the stock a buy rating in a research note on Wednesday, August 21st. Evercore ISI reissued an outperform rating and set a $21.00 price target on shares of Amer Sports in a research report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $18.50.

Amer Sports Stock Performance

Shares of AS opened at $16.38 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $12.94 and a 200 day moving average of $13.92. Amer Sports has a 1-year low of $10.11 and a 1-year high of $18.23.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.11. The business had revenue of $993.80 million during the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, research analysts anticipate that Amer Sports will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of Amer Sports

Institutional investors have recently made changes to their positions in the company. Hood River Capital Management LLC acquired a new stake in Amer Sports in the 1st quarter valued at about $47,778,000. Point72 Hong Kong Ltd lifted its position in Amer Sports by 557.7% during the second quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock worth $41,161,000 after buying an additional 2,776,619 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Amer Sports by 308.3% during the second quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock worth $39,045,000 after buying an additional 2,345,420 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in Amer Sports in the 1st quarter valued at $7,301,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Amer Sports in the 1st quarter worth $5,705,000. 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.