Amer Sports (NYSE:AS) PT Raised to $19.00 at UBS Group

Amer Sports (NYSE:AS) had its target price lifted by equities researchers at UBS Group from $17.00 to $19.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 37.28% from the company’s current price.

Several other research analysts have also weighed in on the stock. Morgan Stanley lowered their target price on shares of Amer Sports from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 23rd. Wells Fargo & Company lowered their price target on Amer Sports from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Amer Sports currently has a consensus rating of “Moderate Buy” and an average price target of $18.50.

Amer Sports Price Performance

AS opened at $13.84 on Wednesday. The business has a 50 day simple moving average of $12.17 and a 200-day simple moving average of $14.13. Amer Sports has a 12 month low of $10.11 and a 12 month high of $18.23. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 0.97.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.11. The company had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. The business’s quarterly revenue was up 16.0% on a year-over-year basis. On average, research analysts anticipate that Amer Sports will post 0.4 EPS for the current year.

Institutional Trading of Amer Sports

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dnca Finance purchased a new position in Amer Sports in the 2nd quarter valued at about $81,000. Amalgamated Bank acquired a new position in shares of Amer Sports in the second quarter valued at approximately $83,000. Summit Securities Group LLC purchased a new position in shares of Amer Sports during the second quarter valued at approximately $297,000. SYSTM Wealth Solutions LLC acquired a new stake in Amer Sports during the first quarter worth approximately $319,000. Finally, Quadrature Capital Ltd acquired a new stake in Amer Sports during the first quarter worth approximately $390,000. Hedge funds and other institutional investors 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.