Amer Sports (NYSE:AS) Rating Increased to Strong-Buy at Nomura Securities

Nomura Securities upgraded shares of Amer Sports (NYSE:AS) to a strong-buy rating in a research note released on Tuesday, Zacks.com reports.

AS has been the subject of a number of other reports. UBS Group boosted their price target on shares of Amer Sports from $17.00 to $19.00 and gave the company a buy rating in a research report on Wednesday, August 21st. Evercore ISI reissued an outperform rating and issued a $21.00 target price on shares of Amer Sports in a report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $18.50.

Amer Sports Price Performance

Shares of AS opened at $16.38 on Tuesday. The firm’s fifty day simple moving average is $12.94 and its 200-day simple moving average is $13.92. Amer Sports has a twelve month low of $10.11 and a twelve month high of $18.23. 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 quarterly 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. The company had revenue of $993.80 million for 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 firm’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities research analysts expect that Amer Sports will post 0.43 EPS for the current year.

Hedge Funds Weigh In On Amer Sports

A number of hedge funds and other institutional investors have recently bought and sold shares of AS. SYSTM Wealth Solutions LLC acquired a new stake in shares of Amer Sports in the first quarter valued at about $319,000. China Universal Asset Management Co. Ltd. purchased a new stake in Amer Sports during the first quarter worth $1,521,000. Capstone Investment Advisors LLC acquired a new stake in Amer Sports in the first quarter valued at $7,301,000. Sei Investments Co. purchased a new position in shares of Amer Sports in the first quarter valued at $968,000. Finally, Value Star Asset Management Hong Kong Ltd acquired a new position in shares of Amer Sports during the 1st quarter worth $2,061,000. 40.25% of the stock is currently 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.