Amer Sports (NYSE:AS) Upgraded at Nomura Securities

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

Several other brokerages also recently issued reports on AS. Evercore ISI restated an outperform rating and set a $21.00 price objective on shares of Amer Sports in a research report on Wednesday, August 21st. UBS Group lifted 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. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amer Sports currently has a consensus rating of Moderate Buy and a consensus target price of $18.50.

Amer Sports Stock Up 5.2 %

Shares of NYSE:AS opened at $15.88 on Tuesday. The company has a 50-day simple moving average of $12.85 and a 200 day simple moving average of $13.91. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. Amer Sports has a 52-week low of $10.11 and a 52-week high of $18.23.

Amer Sports (NYSE:AS) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.11. The firm had revenue of $993.80 million during the quarter, compared to the consensus estimate of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. Amer Sports’s revenue for the quarter was up 16.0% compared to the same quarter last year. Research analysts forecast that Amer Sports will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of Amer Sports

A number of hedge funds have recently added to or reduced their stakes in the stock. Dnca Finance acquired a new stake in shares of Amer Sports during the 2nd quarter valued at $81,000. Amalgamated Bank acquired a new stake in shares of Amer Sports during the 2nd quarter valued at $83,000. Sei Investments Co. boosted its holdings in shares of Amer Sports by 23.1% during the 2nd quarter. Sei Investments Co. now owns 73,141 shares of the company’s stock valued at $919,000 after acquiring an additional 13,748 shares in the last quarter. SYSTM Wealth Solutions LLC acquired a new stake in shares of Amer Sports during the 1st quarter valued at $319,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Amer Sports during the 2nd quarter valued at $297,000. Institutional investors and hedge funds 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.