Wells Fargo & Company Cuts Amer Sports (NYSE:AS) Price Target to $17.00

Amer Sports (NYSE:AS) had its price objective decreased by Wells Fargo & Company from $19.00 to $17.00 in a research note published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on AS. The Goldman Sachs Group started coverage on Amer Sports in a research note on Monday, February 26th. They set a buy rating and a $21.00 price objective for the company. HSBC initiated coverage on Amer Sports in a research note on Monday, February 26th. They set a hold rating and a $16.00 price target for the company. BNP Paribas initiated coverage on Amer Sports in a research note on Monday, February 26th. They set an outperform rating and a $19.00 price target for the company. Bank of America lifted their price objective on shares of Amer Sports from $18.00 to $19.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Amer Sports in a research report on Monday, February 26th. They issued an overweight rating and a $19.00 price objective on the stock. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Amer Sports currently has an average rating of Moderate Buy and an average price target of $18.86.

Amer Sports Stock Up 3.0 %

NYSE AS traded up $0.44 during mid-day trading on Thursday, hitting $14.99. The stock had a trading volume of 112,325 shares, compared to its average volume of 1,725,722. The company has a debt-to-equity ratio of 477.02, a quick ratio of 0.80 and a current ratio of 1.49. The stock’s 50 day moving average is $15.37. Amer Sports has a twelve month low of $13.10 and a twelve month high of $18.23.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. Research analysts anticipate that Amer Sports will post 0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Amer Sports stock. Seven Grand Managers LLC acquired a new position in Amer Sports, Inc. (NYSE:AS) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $1,630,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Amer Sports Company Profile

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.