Amer Sports (NYSE:AS) Hits New 1-Year High After Analyst Upgrade

Amer Sports, Inc. (NYSE:AS) shares hit a new 52-week high during trading on Wednesday after Morgan Stanley raised their price target on the stock from $19.00 to $27.00. Morgan Stanley currently has an equal weight rating on the stock. Amer Sports traded as high as $31.60 and last traded at $30.85, with a volume of 251506 shares. The stock had previously closed at $31.06.

A number of other research firms also recently commented on AS. Robert W. Baird lifted their target price on shares of Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. HSBC cut Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Monday, December 16th. Nomura Securities raised Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Wells Fargo & Company upped their price target on shares of Amer Sports from $20.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. upped their price objective on Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.07.

Institutional Investors Weigh In On Amer Sports

Large investors have recently made changes to their positions in the stock. FMR LLC lifted its position 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 worth $120,151,000 after purchasing an additional 3,133,312 shares in the last quarter. Point72 Hong Kong Ltd lifted its holdings 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 worth $41,161,000 after buying an additional 2,776,619 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Amer Sports by 308.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock valued at $39,045,000 after buying an additional 2,345,420 shares during the period. Woodson Capital Management LP purchased a new stake in shares of Amer Sports during the third quarter worth $12,907,000. Finally, WT Asset Management Ltd raised its stake in shares of Amer Sports by 104.4% in the third quarter. WT Asset Management Ltd now owns 1,251,181 shares of the company’s stock valued at $19,956,000 after acquiring an additional 638,939 shares in the last quarter. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Amer Sports Stock Performance

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 stock has a market capitalization of $16.86 billion and a PE ratio of -220.59. The stock has a fifty day moving average of $26.61 and a 200-day moving average of $18.84.

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.