Amer Sports (NYSE:AS) Price Target Raised to $26.00 at JPMorgan Chase & Co.

Amer Sports (NYSE:AS - Free Report) had its price objective raised by JPMorgan Chase & Co. from $19.00 to $26.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also commented on AS. Evercore ISI reiterated an "outperform" rating and set a $21.00 price objective on shares of Amer Sports in a research note on Wednesday, August 21st. Citigroup increased their price objective 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. Nomura Securities raised shares of Amer Sports to a "strong-buy" rating in a research report on Tuesday, September 24th. UBS Group boosted their price target 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 5th. Finally, The Goldman Sachs Group upped their price objective on shares of Amer Sports from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Four 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.43.

Amer Sports Stock Up 1.4 %

Amer Sports stock traded up $0.29 during mid-day trading on Wednesday, hitting $20.96. The company's stock had a trading volume of 4,436,514 shares, compared to its average volume of 1,728,769. Amer Sports has a 1 year low of $10.11 and a 1 year high of $21.69. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The stock's fifty day moving average is $17.57 and its two-hundred day moving average is $14.81.

Amer Sports (NYSE:AS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.11. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The company had revenue of $993.80 million for the quarter, compared to analysts' expectations of $947.59 million. The firm's quarterly revenue was up 16.0% on a year-over-year basis. Sell-side analysts expect that Amer Sports will post 0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

Several hedge funds have recently modified their holdings of AS. Signaturefd LLC bought a new position in Amer Sports during the third quarter worth about $49,000. Quarry LP acquired a new position in shares of Amer Sports during the 3rd quarter worth approximately $61,000. CWM LLC bought a new stake in Amer Sports in the 3rd quarter valued at $73,000. Dnca Finance bought a new stake in shares of Amer Sports during the 2nd quarter valued at $81,000. Finally, Amalgamated Bank bought a new stake in shares of Amer Sports during the 2nd quarter valued at $83,000. 40.25% of the stock is owned by institutional investors.

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.