Amer Sports (NYSE:AS) Given New $28.00 Price Target at Wells Fargo & Company

Amer Sports (NYSE:AS) had its target price lifted by Wells Fargo & Company from $25.00 to $28.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 3.15% from the stock’s current price.

Several other research firms also recently weighed in on AS. UBS Group lifted their price target on shares of Amer Sports from $27.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Sanford C. Bernstein initiated coverage on Amer Sports in a research report on Thursday, February 13th. They set an “outperform” rating and a $38.00 target price for the company. Morgan Stanley increased their price target 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. Robert W. Baird raised their price target on Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Citigroup upped their price objective on shares of Amer Sports from $24.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.86.

Amer Sports Stock Performance

Shares of Amer Sports stock opened at $28.91 on Wednesday. Amer Sports has a 52 week low of $10.11 and a 52 week high of $34.00. The company has a market capitalization of $15.80 billion and a PE ratio of -206.49. The stock’s fifty day moving average is $30.00 and its two-hundred day moving average is $22.42. 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 posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.60 billion. The firm’s revenue was up 23.2% on a year-over-year basis. As a group, analysts expect that Amer Sports will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On Amer Sports

Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in shares of Amer Sports in the 3rd quarter worth $25,000. West Branch Capital LLC raised its stake in Amer Sports by 14,285.7% in the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock valued at $28,000 after buying an additional 1,000 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in Amer Sports in the fourth quarter worth about $42,000. Signaturefd LLC purchased a new stake in shares of Amer Sports during the third quarter worth about $49,000. Finally, GAMMA Investing LLC increased its holdings in shares of Amer Sports by 61.8% during the fourth quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock valued at $54,000 after acquiring an additional 742 shares in the last quarter. 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.