DnB Asset Management AS Purchases New Shares in Amer Sports, Inc. (NYSE:AS)

DnB Asset Management AS purchased a new stake in Amer Sports, Inc. (NYSE:AS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,405 shares of the company's stock, valued at approximately $487,000.

A number of other hedge funds also recently made changes to their positions in AS. FMR LLC lifted its holdings in Amer Sports by 71.2% in the third quarter. FMR LLC now owns 7,533,007 shares of the company's stock valued at $120,151,000 after buying an additional 3,133,312 shares during the period. WT Asset Management Ltd raised its position in shares of Amer Sports by 188.2% in the 4th quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company's stock worth $100,834,000 after acquiring an additional 2,355,182 shares in the last quarter. Trivest Advisors Ltd acquired a new position in shares of Amer Sports in the 4th quarter valued at about $39,913,000. Greenwoods Asset Management Hong Kong Ltd. bought a new stake in shares of Amer Sports during the 4th quarter valued at about $21,608,000. Finally, JPMorgan Chase & Co. grew its stake in Amer Sports by 33,494.4% during the fourth quarter. JPMorgan Chase & Co. now owns 524,072 shares of the company's stock worth $14,653,000 after purchasing an additional 522,512 shares during the period. 40.25% of the stock is currently owned by institutional investors.

Amer Sports Stock Down 5.1 %

Shares of AS traded down $1.21 on Monday, reaching $22.53. The company's stock had a trading volume of 6,356,903 shares, compared to its average volume of 2,379,680. Amer Sports, Inc. has a twelve month low of $10.11 and a twelve month high of $34.00. The stock has a market capitalization of $12.48 billion, a PE ratio of -160.88, a PEG ratio of 0.72 and a beta of 2.66. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $29.03 and a 200-day moving average of $25.31.

Amer Sports (NYSE:AS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.60 billion. The firm's revenue for the quarter was up 23.2% on a year-over-year basis. Equities analysts predict that Amer Sports, Inc. will post 0.46 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on AS. TD Cowen boosted their price target on Amer Sports from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. The Goldman Sachs Group boosted their target price on shares of Amer Sports from $28.00 to $31.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Morgan Stanley raised their price target on shares of Amer Sports from $19.00 to $27.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. Evercore ISI lifted their price target on shares of Amer Sports from $26.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Finally, Citigroup increased their price objective on shares of Amer Sports from $24.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amer Sports has a consensus rating of "Moderate Buy" and an average target price of $32.64.

Amer Sports 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.