Amer Sports (NYSE:AS) Given New $31.00 Price Target at The Goldman Sachs Group

Amer Sports (NYSE:AS - Get Free Report) had its price objective increased by equities researchers at The Goldman Sachs Group from $28.00 to $31.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective indicates a potential upside of 1.44% from the company's previous close.

Several other research analysts have also weighed in on AS. Evercore ISI upped their target price on Amer Sports from $26.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. Hsbc Global Res cut Amer Sports from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. UBS Group raised their price objective on shares of Amer Sports from $27.00 to $37.00 and gave the company a "buy" rating in a research report on Tuesday, December 17th. Robert W. Baird lifted their target price on shares of Amer Sports from $24.00 to $30.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company raised their price target on shares of Amer Sports from $20.00 to $25.00 and gave the company an "equal weight" rating in a report on Friday, December 20th. Five investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.50.

Amer Sports Stock Up 2.8 %

Shares of NYSE:AS traded up $0.82 during trading on Wednesday, reaching $30.56. 2,606,440 shares of the company traded hands, compared to its average volume of 3,202,048. Amer Sports has a 1-year low of $10.11 and a 1-year high of $31.32. 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 has a market cap of $16.70 billion and a P/E ratio of -218.27. The firm has a fifty day simple moving average of $24.59 and a 200 day simple moving average of $17.77.

Institutional Trading of Amer Sports

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AS. FMR LLC raised its position in shares of Amer Sports by 71.2% during the third quarter. FMR LLC now owns 7,533,007 shares of the company's stock valued at $120,151,000 after buying an additional 3,133,312 shares during the last quarter. Hood River Capital Management LLC increased its stake in Amer Sports by 32.9% during the second quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company's stock valued at $48,983,000 after acquiring an additional 965,625 shares during the period. Point72 Hong Kong Ltd raised its holdings in Amer Sports by 557.7% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company's stock valued at $41,161,000 after acquiring an additional 2,776,619 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Amer Sports by 308.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company's stock worth $39,045,000 after acquiring an additional 2,345,420 shares during the period. Finally, WCM Investment Management LLC grew its holdings in shares of Amer Sports by 29.9% during the 3rd quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company's stock worth $21,787,000 after purchasing an additional 306,001 shares in the last quarter. 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.