Amer Sports (NYSE:AS) Price Target Raised to $25.00

Amer Sports (NYSE:AS - Free Report) had its price target lifted by Wells Fargo & Company from $20.00 to $25.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages also recently weighed in on AS. TD Cowen boosted their target price on shares of Amer Sports from $23.00 to $29.00 and gave the company a "buy" rating in a research note on Monday, December 9th. UBS Group boosted their price target on Amer Sports from $27.00 to $37.00 and gave the company a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on Amer Sports from $19.00 to $26.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 20th. HSBC downgraded Amer Sports from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research report on Monday. Finally, Nomura Securities upgraded Amer Sports to a "strong-buy" rating in a research report on Tuesday, September 24th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amer Sports presently has a consensus rating of "Moderate Buy" and an average price target of $25.14.

Amer Sports Price Performance

AS stock traded up $0.68 during midday trading on Friday, hitting $28.18. 1,871,834 shares of the stock were exchanged, compared to its average volume of 1,930,344. The stock's 50-day moving average price is $21.92 and its 200-day moving average price is $16.46. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. The stock has a market cap of $15.40 billion and a price-to-earnings ratio of -201.27. Amer Sports has a fifty-two week low of $10.11 and a fifty-two week high of $29.43.

Hedge Funds Weigh In On Amer Sports

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp acquired a new stake in shares of Amer Sports in the second quarter valued at about $3,164,000. Summit Securities Group LLC acquired a new stake in Amer Sports in the second quarter valued at approximately $297,000. Sabal Trust CO purchased a new stake in shares of Amer Sports during the second quarter valued at approximately $881,000. Rhumbline Advisers acquired a new position in shares of Amer Sports during the second quarter worth $1,142,000. Finally, Amalgamated Bank acquired a new position in shares of Amer Sports during the second quarter worth $83,000. Institutional investors and hedge funds own 40.25% of the company's stock.

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.