Amer Sports (NYSE:AS) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Amer Sports (NYSE:AS) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Nomura Securities raised shares of Amer Sports from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Citigroup reaffirmed a “buy” rating on shares of Amer Sports in a research note on Thursday, October 30th. HSBC set a $50.00 target price on Amer Sports and gave the company a “buy” rating in a research note on Tuesday, August 26th. JPMorgan Chase & Co. cut their price target on Amer Sports from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Finally, Wall Street Zen cut Amer Sports from a “buy” rating to a “hold” rating in a research note on Sunday, October 26th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $44.73.

Amer Sports Stock Performance

Shares of Amer Sports stock opened at $38.24 on Wednesday. The stock has a market cap of $21.18 billion, a PE ratio of 69.53, a price-to-earnings-growth ratio of 1.03 and a beta of 2.85. Amer Sports has a 12 month low of $20.21 and a 12 month high of $42.36. The company has a quick ratio of 0.70, a current ratio of 1.51 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $33.78 and a 200-day simple moving average of $36.14.

Amer Sports (NYSE:AS) last announced its quarterly earnings data on Tuesday, November 18th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.08. Amer Sports had a return on equity of 8.51% and a net margin of 5.10%.The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the business earned $0.14 EPS. The business’s revenue for the quarter was up 29.7% on a year-over-year basis. Amer Sports has set its FY 2025 guidance at 0.880-0.920 EPS. On average, sell-side analysts anticipate that Amer Sports will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Amer Sports

A number of institutional investors have recently made changes to their positions in the business. Fortress Investment Group LLC bought a new stake in shares of Amer Sports in the 2nd quarter valued at approximately $9,634,000. Maryland State Retirement & Pension System acquired a new stake in Amer Sports in the 2nd quarter valued at $281,000. Exchange Traded Concepts LLC acquired a new stake in Amer Sports in the 2nd quarter valued at $6,032,000. Jefferies Financial Group Inc. bought a new stake in Amer Sports in the second quarter valued at $5,447,000. Finally, Creative Planning raised its stake in Amer Sports by 45.7% during the second quarter. Creative Planning now owns 74,782 shares of the company’s stock worth $2,899,000 after acquiring an additional 23,450 shares in the last quarter. 40.25% of the stock is currently 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.