Morgan Stanley Cuts Amer Sports (NYSE:AS) Price Target to $15.00

Amer Sports (NYSE:AS) had its target price lowered by Morgan Stanley from $16.00 to $15.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other brokerages have also weighed in on AS. Wells Fargo & Company reduced their price target on Amer Sports from $19.00 to $17.00 and set an overweight rating on the stock in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Amer Sports in a report on Monday, February 26th. They issued a buy rating and a $20.00 price target for the company. Robert W. Baird started coverage on shares of Amer Sports in a report on Monday, February 26th. They set an outperform rating and a $20.00 price objective on the stock. BNP Paribas started coverage on shares of Amer Sports in a report on Monday, February 26th. They issued an outperform rating and a $19.00 target price for the company. Finally, HSBC initiated coverage on shares of Amer Sports in a research note on Monday, February 26th. They set a hold rating and a $16.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Amer Sports presently has an average rating of Moderate Buy and an average target price of $18.79.

Amer Sports Stock Performance

Shares of NYSE:AS opened at $14.82 on Thursday. The firm has a fifty day moving average of $14.99. Amer Sports has a 52-week low of $13.10 and a 52-week high of $18.23. The company has a current ratio of 1.96, a quick ratio of 0.80 and a debt-to-equity ratio of 0.07.

Amer Sports (NYSE:AS) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.13 billion. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. On average, equities research analysts anticipate that Amer Sports will post 0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hood River Capital Management LLC acquired a new position in Amer Sports during the 1st quarter worth approximately $47,778,000. Capstone Investment Advisors LLC acquired a new stake in Amer Sports during the 1st quarter valued at $7,301,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Amer Sports during the 1st quarter valued at $5,705,000. Value Star Asset Management Hong Kong Ltd purchased a new stake in Amer Sports during the 1st quarter worth $2,061,000. Finally, Seven Grand Managers LLC acquired a new position in Amer Sports in the 1st quarter worth $1,630,000. Hedge funds and other 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.