Amer Sports (NYSE:AS) Reaches New 1-Year High Following Analyst Upgrade

Shares of Amer Sports, Inc. (NYSE:AS) hit a new 52-week high on Thursday after Evercore ISI raised their price target on the stock from $26.00 to $30.00. Evercore ISI currently has an outperform rating on the stock. Amer Sports traded as high as $27.28 and last traded at $27.07, with a volume of 865696 shares. The stock had previously closed at $25.76.

A number of other research firms also recently weighed in on AS. Citigroup upped their target price on shares of Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company upped their price objective on shares of Amer Sports from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Morgan Stanley lifted their target price on shares of Amer Sports from $15.00 to $19.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Robert W. Baird upped their price target on Amer Sports from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group raised their price objective on Amer Sports from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amer Sports currently has an average rating of “Moderate Buy” and a consensus target price of $23.07.

Institutional Investors Weigh In On Amer Sports

Institutional investors have recently modified their holdings of the business. Signaturefd LLC purchased a new stake in Amer Sports in the third quarter worth approximately $49,000. Quarry LP bought a new position in shares of Amer Sports during the 3rd quarter valued at $61,000. CWM LLC purchased a new position in shares of Amer Sports in the 3rd quarter worth $73,000. Amalgamated Bank purchased a new position in shares of Amer Sports in the 2nd quarter worth $83,000. Finally, Virtu Financial LLC bought a new stake in shares of Amer Sports in the third quarter worth $167,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

Amer Sports Stock Performance

The company has a market cap of $15.10 billion and a P/E ratio of -197.49. 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 fifty day simple moving average of $20.97 and a two-hundred day simple moving average of $16.02.

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.