Amer Sports (NYSE:AS) PT Lowered to $17.00 at Wells Fargo & Company

Amer Sports (NYSE:AS) had its price target dropped by research analysts at Wells Fargo & Company from $19.00 to $17.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 18.22% from the stock’s previous close.

A number of other equities analysts also recently issued reports on AS. Morgan Stanley assumed coverage on Amer Sports in a report on Monday, February 26th. They issued an “equal weight” rating and a $16.00 price target for the company. TD Cowen assumed coverage on Amer Sports in a research note on Monday, February 26th. They issued an “outperform” rating and a $18.00 price objective for the company. The Goldman Sachs Group assumed coverage on Amer Sports in a research note on Monday, February 26th. They issued a “buy” rating and a $21.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Amer Sports in a research note on Monday, February 26th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Citigroup assumed coverage on Amer Sports in a research note on Monday, February 26th. They issued a “buy” rating and a $19.00 price objective for the company. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.86.

Amer Sports Stock Performance

NYSE AS traded up $0.05 during trading on Thursday, hitting $14.38. The stock had a trading volume of 80,383 shares, compared to its average volume of 1,717,814. Amer Sports has a twelve month low of $13.10 and a twelve month high of $18.23. The company has a debt-to-equity ratio of 477.02, a current ratio of 1.49 and a quick ratio of 0.80. The business’s 50 day moving average is $15.39.

Amer Sports (NYSE:AS) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. As a group, analysts anticipate that Amer Sports will post 0.42 EPS for the current year.

Institutional Trading of Amer Sports

A hedge fund recently bought a new stake in Amer Sports stock. Seven Grand Managers LLC bought a new stake in Amer Sports, Inc. (NYSE:AS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $1,630,000. Institutional investors and hedge funds 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.