JPMorgan Chase & Co. Acquires 522,512 Shares of Amer Sports, Inc. (NYSE:AS)

JPMorgan Chase & Co. lifted its stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 33,494.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 524,072 shares of the company's stock after acquiring an additional 522,512 shares during the quarter. JPMorgan Chase & Co. owned about 0.10% of Amer Sports worth $14,653,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Brilliance Asset Management Ltd. increased its position in Amer Sports by 5.1% in the 4th quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company's stock valued at $113,883,000 after acquiring an additional 196,380 shares in the last quarter. WT Asset Management Ltd lifted its position in Amer Sports by 188.2% in the 4th quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company's stock valued at $100,834,000 after acquiring an additional 2,355,182 shares in the last quarter. Trivest Advisors Ltd bought a new position in shares of Amer Sports during the fourth quarter worth about $39,913,000. State Street Corp lifted its position in shares of Amer Sports by 65.1% in the third quarter. State Street Corp now owns 884,526 shares of the company's stock worth $14,108,000 after purchasing an additional 348,877 shares in the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new position in shares of Amer Sports in the 4th quarter valued at about $21,608,000. 40.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AS shares. The Goldman Sachs Group lifted their target price on Amer Sports from $28.00 to $31.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Sanford C. Bernstein started coverage on Amer Sports in a report on Thursday, February 13th. They issued an "outperform" rating and a $38.00 price objective for the company. Morgan Stanley increased their price target on shares of Amer Sports from $19.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on shares of Amer Sports from $33.00 to $34.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Citigroup lifted their target price 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 issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Amer Sports currently has an average rating of "Moderate Buy" and an average price target of $32.64.

Amer Sports Stock Performance

NYSE:AS traded down $0.32 during mid-day trading on Thursday, reaching $22.08. The company's stock had a trading volume of 499,623 shares, compared to its average volume of 2,455,527. Amer Sports, Inc. has a 12-month low of $10.11 and a 12-month high of $34.00. 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's fifty day moving average price is $27.29 and its two-hundred day moving average price is $25.53. The stock has a market cap of $12.23 billion, a P/E ratio of -158.06, a PEG ratio of 0.72 and a beta of 2.66.

Amer Sports (NYSE:AS - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, meeting analysts' consensus estimates of $0.17. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The business had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.60 billion. The firm's quarterly revenue was up 23.2% on a year-over-year basis. On average, equities 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.