Citigroup Boosts Amer Sports (NYSE:AS) Price Target to $36.00

Amer Sports (NYSE:AS) had its price target upped by Citigroup from $24.00 to $36.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 21.21% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. TD Cowen increased their price objective on shares of Amer Sports from $23.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. HSBC downgraded Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Monday, December 16th. JPMorgan Chase & Co. boosted their price objective on Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Nomura Securities raised Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Wells Fargo & Company boosted their price target on Amer Sports from $20.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Amer Sports Stock Performance

Shares of AS stock opened at $29.70 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. Amer Sports has a one year low of $10.11 and a one year high of $31.32. The business’s 50 day simple moving average is $24.59 and its 200 day simple moving average is $17.77. The stock has a market capitalization of $16.23 billion and a PE ratio of -212.13.

Hedge Funds Weigh In On Amer Sports

A number of large investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Amer Sports by 71.2% during the third quarter. FMR LLC now owns 7,533,007 shares of the company’s stock valued at $120,151,000 after buying an additional 3,133,312 shares during the period. Point72 Hong Kong Ltd grew its stake in Amer Sports by 557.7% during the second quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock valued at $41,161,000 after acquiring an additional 2,776,619 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in 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 worth $39,045,000 after acquiring an additional 2,345,420 shares during the period. Hood River Capital Management LLC lifted its stake in Amer Sports by 32.9% in the 2nd quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company’s stock worth $48,983,000 after purchasing an additional 965,625 shares in the last quarter. Finally, Woodson Capital Management LP bought a new position in Amer Sports in the 3rd quarter valued at $12,907,000. 40.25% of the stock is 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.