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

Wells Fargo & Company lowered shares of Amer Sports (NYSE:AS) from an overweight rating to an equal weight rating in a research report released on Monday morning, MarketBeat Ratings reports. They currently have $19.00 target price on the stock, up from their prior target price of $17.00.

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

Amer Sports Stock Down 1.2 %

AS stock opened at $18.39 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $14.98 and a two-hundred day moving average price of $14.12. Amer Sports has a one year low of $10.11 and a one year high of $19.73.

Amer Sports (NYSE:AS) last announced its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. The company had revenue of $993.80 million during the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business’s revenue was up 16.0% on a year-over-year basis. Equities analysts anticipate that Amer Sports will post 0.43 earnings per share for the current year.

Institutional Trading of Amer Sports

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC bought a new stake in Amer Sports in the third quarter valued at approximately $73,000. Dnca Finance bought a new position in shares of Amer Sports during the 2nd quarter worth approximately $81,000. Amalgamated Bank bought a new position in shares of Amer Sports during the 2nd quarter worth approximately $83,000. Artemis Investment Management LLP bought a new position in shares of Amer Sports during the 3rd quarter worth approximately $293,000. Finally, Summit Securities Group LLC bought a new position in shares of Amer Sports during the 2nd quarter worth approximately $297,000. 40.25% of the stock is currently owned by institutional investors.

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.