Wells Fargo & Company Lowers Amer Sports (NYSE:AS) to Equal Weight

by · The Markets Daily

Wells Fargo & Company lowered shares of Amer Sports (NYSE:AS – Free Report) from an overweight rating to an equal weight rating in a research note released on Monday morning, Marketbeat.com reports. The firm currently has $19.00 target price on the stock, up from their prior target price of $17.00.

Other equities analysts have also issued reports about the company. Nomura Securities raised Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Evercore ISI reaffirmed an “outperform” rating and set a $21.00 target price on shares of Amer Sports in a research report on Wednesday, August 21st. Finally, UBS Group upped their target price on Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Amer Sports currently has an average rating of “Moderate Buy” and an average target price of $18.86.

View Our Latest Report on Amer Sports

Amer Sports Price Performance

Amer Sports stock opened at $18.39 on Monday. 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 has a 52-week low of $10.11 and a 52-week high of $19.73. The stock’s 50 day moving average price is $14.98 and its two-hundred day moving average price is $14.12.

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

Institutional Investors Weigh In On Amer Sports

Several large investors have recently made changes to their positions in AS. Hood River Capital Management LLC purchased a new stake in shares of Amer Sports during the 1st quarter valued at $47,778,000. Point72 Hong Kong Ltd increased its position in shares of Amer Sports by 557.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock valued at $41,161,000 after purchasing an additional 2,776,619 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Amer Sports by 308.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock valued at $39,045,000 after purchasing an additional 2,345,420 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Amer Sports during the 1st quarter valued at $7,301,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Amer Sports during the 1st quarter valued at $5,705,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

Amer Sports Company Profile

(Get Free Report)

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.

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