Amer Sports (NYSE:AS) Given New $17.00 Price Target at Wells Fargo & Company

Amer Sports (NYSE:AS) had its price target reduced by Wells Fargo & Company from $19.00 to $17.00 in a research note published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. UBS Group initiated coverage on shares of Amer Sports in a report on Monday, February 26th. They set a buy rating and a $23.00 target price for the company. HSBC began coverage on Amer Sports in a research note on Monday, February 26th. They set a hold rating and a $16.00 price target for the company. Bank of America boosted their target price on Amer Sports from $18.00 to $19.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Amer Sports in a report on Monday, February 26th. They set a buy rating and a $20.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on Amer Sports in a report on Monday, February 26th. They issued an overweight rating and a $19.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $18.86.

Amer Sports Price Performance

Shares of AS traded up $0.44 during mid-day trading on Thursday, hitting $14.99. 112,325 shares of the company’s stock traded hands, compared to its average volume of 1,725,722. The business has a 50-day simple moving average of $15.37. The company has a debt-to-equity ratio of 477.02, a quick ratio of 0.80 and a current ratio of 1.49. Amer Sports has a 1 year low of $13.10 and a 1 year high of $18.23.

Amer Sports (NYSE:AS) last released its earnings results on Tuesday, March 5th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. On average, equities research analysts predict that Amer Sports will post 0.42 EPS for the current year.

Hedge Funds Weigh In On Amer Sports

An institutional investor recently bought a new position in Amer Sports stock. SYSTM Wealth Solutions LLC purchased a new position in shares of Amer Sports, Inc. (NYSE:AS) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,591 shares of the company’s stock, valued at approximately $319,000. 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.