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

Amer Sports (NYSE:AS) had its price objective hoisted by stock analysts at Wells Fargo & Company from $25.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 3.15% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. The Goldman Sachs Group increased their price target on Amer Sports from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Citigroup lifted their price target on Amer Sports from $24.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Morgan Stanley upped their price objective on Amer Sports from $19.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Sanford C. Bernstein assumed coverage on shares of Amer Sports in a report on Thursday, February 13th. They set an “outperform” rating and a $38.00 target price for the company. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $28.86.

Amer Sports Trading Up 1.1 %

Amer Sports stock opened at $28.91 on Wednesday. The stock has a 50-day moving average price of $30.00 and a 200 day moving average price of $22.42. The company has a market capitalization of $15.80 billion and a price-to-earnings ratio of -206.49. Amer Sports has a 52 week low of $10.11 and a 52 week high of $34.00. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The firm’s revenue was up 23.2% on a year-over-year basis. Sell-side analysts anticipate that Amer Sports will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp acquired a new position in shares of Amer Sports during the fourth quarter valued at approximately $819,000. Voloridge Investment Management LLC acquired a new stake in Amer Sports during the 4th quarter worth $18,641,000. Woodline Partners LP purchased a new stake in shares of Amer Sports during the fourth quarter worth $14,135,000. Woodson Capital Management LP raised its position in shares of Amer Sports by 29.8% in the fourth quarter. Woodson Capital Management LP now owns 1,050,000 shares of the company’s stock valued at $29,358,000 after buying an additional 240,800 shares during the last quarter. Finally, Vident Advisory LLC purchased a new position in shares of Amer Sports in the fourth quarter worth about $19,791,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

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.