Amer Sports (NYSE:AS) Stock Rating Lowered by Hsbc Global Res

Hsbc Global Res downgraded shares of Amer Sports (NYSE:AS - Free Report) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Amer Sports from $19.00 to $26.00 and gave the stock an "overweight" rating in a report on Wednesday, November 20th. Wells Fargo & Company increased their price objective on shares of Amer Sports from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 20th. UBS Group lifted their target price on Amer Sports from $24.00 to $27.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. HSBC downgraded shares of Amer Sports from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a report on Monday. Finally, Evercore ISI increased their price objective on shares of Amer Sports from $26.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, December 12th. Five equities 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $24.79.

Amer Sports Stock Up 3.9 %

Shares of Amer Sports stock traded up $1.09 on Monday, hitting $28.74. 3,333,352 shares of the company's stock traded hands, compared to its average volume of 1,922,698. 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 firm's 50-day moving average is $21.39 and its 200 day moving average is $16.21. The stock has a market cap of $15.70 billion and a P/E ratio of -208.21. Amer Sports has a 52-week low of $10.11 and a 52-week high of $29.43.

Institutional Investors Weigh In On Amer Sports

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its holdings in shares of Amer Sports by 734.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company's stock worth $1,288,000 after acquiring an additional 71,086 shares during the last quarter. Woodson Capital Management LP acquired a new position in shares of Amer Sports in the 3rd quarter valued at $12,907,000. Shellback Capital LP increased its stake in Amer Sports by 5.0% in the 2nd quarter. Shellback Capital LP now owns 525,000 shares of the company's stock worth $6,599,000 after purchasing an additional 25,000 shares in the last quarter. XTX Topco Ltd acquired a new stake in Amer Sports during the 3rd quarter worth about $609,000. Finally, Creative Planning purchased a new stake in Amer Sports during the third quarter valued at about $656,000. 40.25% of the stock is currently owned by institutional investors.

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.