Amer Sports (NYSE:AS) Shares Up 5% on Analyst Upgrade

Amer Sports, Inc. (NYSE:AS - Get Free Report)'s share price shot up 5% during mid-day trading on Tuesday after UBS Group raised their price target on the stock from $27.00 to $37.00. UBS Group currently has a buy rating on the stock. Amer Sports traded as high as $29.13 and last traded at $29.03. 1,074,963 shares traded hands during trading, a decline of 44% from the average session volume of 1,911,675 shares. The stock had previously closed at $27.65.

AS has been the topic of a number of other reports. Morgan Stanley raised their price target on shares of Amer Sports from $15.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price target on shares of Amer Sports from $19.00 to $26.00 and gave the company an "overweight" rating in a research report on Wednesday, November 20th. Robert W. Baird increased their price target on Amer Sports from $24.00 to $30.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Nomura Securities raised Amer Sports to a "strong-buy" rating in a report on Tuesday, September 24th. Finally, TD Cowen upped their target price on Amer Sports from $23.00 to $29.00 and gave the company a "buy" rating in a research report on Monday, December 9th. 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 company's stock. According to MarketBeat.com, Amer Sports currently has an average rating of "Moderate Buy" and a consensus price target of $24.79.

Institutional Trading of Amer Sports

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its holdings in 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 purchasing an additional 71,086 shares in the last quarter. Woodson Capital Management LP bought a new stake in shares of Amer Sports during the third quarter worth about $12,907,000. Shellback Capital LP increased its stake in shares of Amer Sports by 5.0% in the second quarter. Shellback Capital LP now owns 525,000 shares of the company's stock valued at $6,599,000 after buying an additional 25,000 shares during the period. XTX Topco Ltd bought a new position in Amer Sports in the 3rd quarter valued at approximately $609,000. Finally, Creative Planning acquired a new stake in Amer Sports during the 3rd quarter worth approximately $656,000. Institutional investors own 40.25% of the company's stock.

Amer Sports Stock Up 3.9 %

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's fifty day simple moving average is $21.39 and its two-hundred day simple moving average is $16.21. The stock has a market capitalization of $15.70 billion and a P/E ratio of -208.21.

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.