Amer Sports (NYSE:AS) Coverage Initiated at Sanford C. Bernstein

Sanford C. Bernstein started coverage on shares of Amer Sports (NYSE:AS) in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $38.00 price objective on the stock.

A number of other equities analysts also recently weighed in on the stock. Evercore ISI raised their target price on shares of Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. TD Cowen increased their price target on shares of Amer Sports from $29.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley increased their price target 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. increased their price target 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. Finally, HSBC cut shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $28.64.

Amer Sports Price Performance

Shares of NYSE AS opened at $30.96 on Thursday. Amer Sports has a fifty-two week low of $10.11 and a fifty-two week high of $34.00. The company has a 50 day simple moving average of $29.36 and a two-hundred day simple moving average of $21.16. The company has a market capitalization of $16.91 billion and a price-to-earnings ratio of -221.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62.

Institutional Investors Weigh In On Amer Sports

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Amer Sports by 61.8% in the fourth quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock worth $54,000 after acquiring an additional 742 shares during the period. West Branch Capital LLC raised its position 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 worth $28,000 after acquiring an additional 1,000 shares during the period. Signaturefd LLC raised its position in Amer Sports by 35.0% in the fourth quarter. Signaturefd LLC now owns 4,136 shares of the company’s stock worth $116,000 after acquiring an additional 1,073 shares during the period. Sterling Capital Management LLC raised its position in Amer Sports by 55.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,487 shares of the company’s stock worth $97,000 after acquiring an additional 1,250 shares during the period. Finally, Kieckhefer Group LLC bought a new position in Amer Sports in the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

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.