Amer Sports (NYSE:AS) Given New $21.00 Price Target at The Goldman Sachs Group

Amer Sports (NYSE:AS - Free Report) had its price objective increased by The Goldman Sachs Group from $19.00 to $21.00 in a report released on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on AS. UBS Group lifted their price objective on shares of Amer Sports from $17.00 to $19.00 and gave the stock a "buy" rating in a research note on Wednesday, August 21st. Evercore ISI reaffirmed an "outperform" rating and set a $21.00 price target on shares of Amer Sports in a research note on Wednesday, August 21st. Wells Fargo & Company cut shares of Amer Sports from an "overweight" rating to an "equal weight" rating and lifted their price target for the stock from $17.00 to $19.00 in a research note on Monday, October 14th. TD Cowen lifted their price target on shares of Amer Sports from $17.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Finally, Nomura Securities raised shares of Amer Sports to a "strong-buy" rating in a research note on Tuesday, September 24th. Four 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.86.

Amer Sports Stock Performance

Shares of NYSE:AS traded down $0.04 on Monday, reaching $18.86. The company's stock had a trading volume of 1,354,919 shares, compared to its average volume of 1,656,775. Amer Sports has a 52-week low of $10.11 and a 52-week high of $19.73. The company has a 50-day simple moving average of $15.27 and a 200 day simple moving average of $14.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87.

Amer Sports (NYSE:AS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.11. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business had revenue of $993.80 million during the quarter, compared to analysts' expectations of $947.59 million. Amer Sports's revenue was up 16.0% compared to the same quarter last year. As a group, analysts forecast that Amer Sports will post 0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

Several large investors have recently modified their holdings of AS. Capstone Investment Advisors LLC bought a new stake in shares of Amer Sports in the 1st quarter valued at about $7,301,000. Sei Investments Co. bought a new stake in shares of Amer Sports in the 1st quarter valued at about $968,000. Value Star Asset Management Hong Kong Ltd bought a new stake in shares of Amer Sports in the 1st quarter valued at about $2,061,000. Tocqueville Asset Management L.P. bought a new position in shares of Amer Sports during the 1st quarter worth approximately $813,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Amer Sports during the 1st quarter worth approximately $5,705,000. Institutional investors 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.