Amer Sports (NYSE:AS) Stock Price Expected to Rise, TD Cowen Analyst Says

Amer Sports (NYSE:AS) had its price objective boosted by research analysts at TD Cowen from $29.00 to $33.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target suggests a potential upside of 7.74% from the stock’s current price.

A number of other analysts have also recently commented on the company. Wells Fargo & Company lifted their target price on Amer Sports from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Robert W. Baird lifted 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 increased their price objective on Amer Sports from $24.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, The Goldman Sachs Group increased their price target on shares of Amer Sports from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Amer Sports Stock Up 3.0 %

Shares of Amer Sports stock traded up $0.89 on Wednesday, reaching $30.63. 1,573,703 shares of the company were exchanged, compared to its average volume of 2,965,522. The stock’s 50 day moving average price is $24.59 and its 200-day moving average price is $17.77. The company has a market cap of $16.74 billion and a P/E ratio of -218.77. Amer Sports has a 1-year low of $10.11 and a 1-year high of $31.32. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77.

Institutional Trading of Amer Sports

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted 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 buying an additional 742 shares during the period. JPMorgan Chase & Co. acquired a new stake in Amer Sports in the third quarter worth approximately $25,000. Signaturefd LLC acquired a new stake in Amer Sports in the third quarter worth approximately $49,000. Quarry LP bought a new position in Amer Sports during the third quarter valued at about $61,000. Finally, CWM LLC bought a new position in shares of Amer Sports during the 3rd quarter valued at about $73,000. 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.