Amer Sports (NYSE:AS) Cut to Hold at HSBC

Amer Sports (NYSE:AS) was downgraded by research analysts at HSBC from a “buy” rating to a “hold” rating in a report released on Monday, Marketbeat.com reports. They currently have a $30.00 price target on the stock. HSBC’s price objective points to a potential upside of 8.50% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. TD Cowen raised their target price on Amer Sports from $23.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Robert W. Baird boosted their price target on Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Citigroup raised their price target on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Evercore ISI lifted their price objective on shares of Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.07.

Amer Sports Stock Performance

Shares of AS stock opened at $27.65 on Monday. The company has a market cap of $15.11 billion and a P/E ratio of -197.49. Amer Sports has a 52 week low of $10.11 and a 52 week high of $27.79. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average of $21.18 and a two-hundred day moving average of $16.12.

Institutional Investors Weigh In On Amer Sports

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its holdings in shares of Amer Sports by 71.2% during the third quarter. FMR LLC now owns 7,533,007 shares of the company’s stock valued at $120,151,000 after acquiring an additional 3,133,312 shares during the period. Hood River Capital Management LLC grew its position in Amer Sports by 32.9% during the 2nd quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company’s stock worth $48,983,000 after purchasing an additional 965,625 shares in the last quarter. Point72 Hong Kong Ltd raised its stake in Amer Sports by 557.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock valued at $41,161,000 after purchasing an additional 2,776,619 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Amer Sports by 308.3% in the second quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock valued at $39,045,000 after purchasing an additional 2,345,420 shares in the last quarter. Finally, WCM Investment Management LLC boosted its position in shares of Amer Sports by 29.9% in the third quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company’s stock worth $21,787,000 after buying an additional 306,001 shares during the period. 40.25% of the stock is 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.