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

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

Several other research analysts also recently commented on AS. JPMorgan Chase & Co. began coverage on shares of Amer Sports in a report on Monday, February 26th. They issued an overweight rating and a $19.00 price objective for the company. UBS Group initiated coverage on Amer Sports in a research note on Monday, February 26th. They set a buy rating and a $23.00 price objective on the stock. Wells Fargo & Company cut their target price on Amer Sports from $19.00 to $17.00 and set an overweight rating for the company in a research note on Thursday, April 25th. Sanford C. Bernstein reiterated a market perform rating and set a $16.00 price target (down from $18.50) on shares of Amer Sports in a research report on Monday, April 8th. Finally, Robert W. Baird assumed coverage on shares of Amer Sports in a research report on Monday, February 26th. They issued an outperform rating and a $20.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $18.79.

Amer Sports Price Performance

NYSE:AS opened at $14.82 on Thursday. The stock has a fifty day moving average price of $14.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 0.80. Amer Sports has a 1 year low of $13.10 and a 1 year high of $18.23.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AS. Hood River Capital Management LLC bought a new stake in Amer Sports during the first quarter worth about $47,778,000. Capstone Investment Advisors LLC bought a new stake in Amer Sports in the 1st quarter worth approximately $7,301,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Amer Sports in the first quarter worth approximately $5,705,000. Value Star Asset Management Hong Kong Ltd bought a new position in Amer Sports during the first quarter valued at approximately $2,061,000. Finally, Seven Grand Managers LLC purchased a new position in shares of Amer Sports during the first quarter worth approximately $1,630,000. 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.