Amer Sports (NYSE:AS – Free Report) had its price target upped by The Goldman Sachs Group from $28.00 to $44.00 in a research note issued to investors on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.
Other research analysts have also recently issued research reports about the company. Wells Fargo & Company set a $35.00 price objective on Amer Sports and gave the company an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on Amer Sports from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. UBS Group reiterated a “buy” rating and set a $50.00 price objective (up previously from $37.00) on shares of Amer Sports in a research note on Wednesday. Citigroup lowered their price objective on Amer Sports from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Finally, Sanford C. Bernstein initiated coverage on Amer Sports in a research note on Thursday, February 13th. They issued an “outperform” rating and a $38.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.67.
Read Our Latest Analysis on AS
Amer Sports Stock Down 1.0%
Amer Sports (NYSE:AS – Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 earnings per share. On average, research analysts anticipate that Amer Sports will post 0.46 earnings per share for the current fiscal year.
Institutional Trading of Amer Sports
Several large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in shares of Amer Sports by 44.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,173,674 shares of the company’s stock worth $31,372,000 after acquiring an additional 358,536 shares during the period. Temasek Holdings Private Ltd bought a new stake in shares of Amer Sports in the first quarter worth $10,081,000. Tiger Pacific Capital LP bought a new stake in shares of Amer Sports in the first quarter worth $8,316,000. Samlyn Capital LLC grew its holdings in shares of Amer Sports by 10.8% in the first quarter. Samlyn Capital LLC now owns 1,634,448 shares of the company’s stock worth $43,689,000 after acquiring an additional 159,848 shares during the period. Finally, Petrus Trust Company LTA bought a new stake in shares of Amer Sports in the first quarter worth $361,000. 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.
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