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

Amer Sports (NYSE:AS) had its price objective hoisted by Wells Fargo & Company from $25.00 to $28.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Amer Sports in a report on Thursday, February 13th. They issued an “outperform” rating and a $38.00 price objective for the company. Morgan Stanley upped their price objective on shares of Amer Sports from $19.00 to $27.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on shares of Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Evercore ISI upped their price objective on shares of Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, Hsbc Global Res lowered shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.50.

Amer Sports Price Performance

Amer Sports stock opened at $29.91 on Wednesday. Amer Sports has a 52-week low of $10.11 and a 52-week high of $34.00. The firm has a market capitalization of $16.34 billion and a price-to-earnings ratio of -213.63. The company has a fifty day simple moving average of $30.11 and a 200-day simple moving average of $22.65. 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 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to analyst estimates of $1.60 billion. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities analysts anticipate that Amer Sports will post 0.46 EPS for the current fiscal year.

Institutional Trading of Amer Sports

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new stake in shares of Amer Sports during the third quarter worth about $25,000. West Branch Capital LLC lifted its position in shares of Amer Sports by 14,285.7% during the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock worth $28,000 after purchasing an additional 1,000 shares in the last quarter. Kieckhefer Group LLC acquired a new stake in shares of Amer Sports during the fourth quarter worth about $42,000. Signaturefd LLC acquired a new stake in shares of Amer Sports during the third quarter worth about $49,000. Finally, GAMMA Investing LLC lifted its position 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 worth $54,000 after purchasing an additional 742 shares in the last quarter. Institutional investors and hedge funds 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.