Amer Sports (NYSE:AS) Price Target Raised to $26.00 at JPMorgan Chase & Co.

Amer Sports (NYSE:AS) had its target price hoisted by JPMorgan Chase & Co. from $19.00 to $26.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently issued reports on AS. UBS Group lifted their price objective on shares of Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. The Goldman Sachs Group increased their price objective on shares of Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, October 21st. TD Cowen lifted their target price on shares of Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company downgraded Amer Sports from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $17.00 to $19.00 in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.43.

Amer Sports Stock Performance

Shares of AS stock opened at $20.94 on Wednesday. Amer Sports has a 12 month low of $10.11 and a 12 month high of $21.69. The firm has a fifty day simple moving average of $17.57 and a two-hundred day simple moving average of $14.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The company had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. Analysts expect that Amer Sports will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of Amer Sports

A number of institutional investors have recently modified their holdings of the business. Signaturefd LLC purchased a new position in Amer Sports in the 3rd quarter valued at approximately $49,000. Quarry LP purchased a new position in shares of Amer Sports in the third quarter valued at $61,000. CWM LLC bought a new stake in shares of Amer Sports during the 3rd quarter valued at $73,000. Dnca Finance purchased a new stake in Amer Sports during the 2nd quarter worth about $81,000. Finally, Amalgamated Bank bought a new position in Amer Sports in the 2nd quarter worth about $83,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Amer Sports Company Profile

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.