Alliancebernstein L.P. Decreases Stock Holdings in Amer Sports, Inc. (NYSE:AS)

Alliancebernstein L.P. lowered its holdings in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 41.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,715 shares of the company's stock after selling 16,618 shares during the quarter. Alliancebernstein L.P.'s holdings in Amer Sports were worth $663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AS. Arrowstreet Capital Limited Partnership bought a new stake in shares of Amer Sports during the fourth quarter valued at approximately $37,518,000. DnB Asset Management AS bought a new position in shares of Amer Sports during the 4th quarter valued at about $487,000. Norges Bank purchased a new position in shares of Amer Sports during the fourth quarter valued at about $12,424,000. JPMorgan Chase & Co. lifted its position in shares of Amer Sports by 33,494.4% in the fourth quarter. JPMorgan Chase & Co. now owns 524,072 shares of the company's stock worth $14,653,000 after buying an additional 522,512 shares in the last quarter. Finally, Brilliance Asset Management Ltd. boosted its stake in Amer Sports by 5.1% during the fourth quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company's stock valued at $113,883,000 after buying an additional 196,380 shares during the last quarter. Institutional investors own 40.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group increased their target price on Amer Sports from $37.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Morgan Stanley upped their target price on shares of Amer Sports from $19.00 to $27.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. The Goldman Sachs Group reduced their price objective on Amer Sports from $33.00 to $28.00 and set a "buy" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on Amer Sports from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, TD Cowen increased their price target on Amer Sports from $29.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.36.

Amer Sports Stock Up 2.6 %

NYSE AS traded up $0.57 on Tuesday, reaching $22.23. 5,733,206 shares of the stock traded hands, compared to its average volume of 2,492,216. Amer Sports, Inc. has a 12 month low of $10.11 and a 12 month high of $34.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. The company has a fifty day moving average price of $26.81 and a 200-day moving average price of $25.77. The company has a market cap of $12.31 billion, a price-to-earnings ratio of -158.77, a PEG ratio of 0.72 and a beta of 2.66.

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

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.