TD Cowen Raises Amer Sports (NYSE:AS) Price Target to $21.00

Amer Sports (NYSE:AS) had its price target raised by TD Cowen from $17.00 to $21.00 in a report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Evercore ISI restated an “outperform” rating and set a $21.00 target price on shares of Amer Sports in a research report on Wednesday, August 21st. Wells Fargo & Company lowered Amer Sports from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $17.00 to $19.00 in a research report on Monday. UBS Group boosted their price target on shares of Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.86.

Amer Sports Price Performance

NYSE AS opened at $18.39 on Tuesday. Amer Sports has a 1 year low of $10.11 and a 1 year high of $19.73. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87. The company has a fifty day moving average of $14.98 and a 200 day moving average of $14.12.

Amer Sports (NYSE:AS) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 company’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, research analysts anticipate that Amer Sports will post 0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AS. Capstone Investment Advisors LLC purchased a new position in Amer Sports during the first quarter worth approximately $7,301,000. Sei Investments Co. acquired a new position in shares of Amer Sports during the 1st quarter valued at about $968,000. Value Star Asset Management Hong Kong Ltd purchased a new stake in shares of Amer Sports in the first quarter valued at about $2,061,000. Tocqueville Asset Management L.P. acquired a new stake in Amer Sports during the first quarter worth about $813,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Amer Sports during the first quarter worth about $5,705,000. 40.25% of the stock is currently owned by institutional investors and hedge funds.

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.