444,365 Shares in Amer Sports, Inc. (NYSE:AS) Purchased by Norges Bank

Norges Bank bought a new position in Amer Sports, Inc. (NYSE:AS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 444,365 shares of the company's stock, valued at approximately $12,424,000. Norges Bank owned about 0.08% of Amer Sports as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in Amer Sports by 33,494.4% during the 4th 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. Brilliance Asset Management Ltd. lifted its position in shares of Amer Sports by 5.1% during the fourth quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company's stock worth $113,883,000 after purchasing an additional 196,380 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Amer Sports during the fourth quarter valued at approximately $556,000. AXQ Capital LP bought a new stake in shares of Amer Sports during the fourth quarter valued at approximately $276,000. Finally, Sei Investments Co. bought a new position in Amer Sports in the 4th quarter worth approximately $1,269,000. Institutional investors and hedge funds own 40.25% of the company's stock.

Amer Sports Trading Up 0.6 %

Amer Sports stock traded up $0.13 during mid-day trading on Friday, hitting $22.17. 4,376,529 shares of the company's stock were exchanged, compared to its average volume of 2,460,602. The company's 50 day simple moving average is $27.84 and its 200-day simple moving average is $25.47. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $12.28 billion, a P/E ratio of -158.31, a PEG ratio of 0.72 and a beta of 2.66. Amer Sports, Inc. has a fifty-two week low of $10.11 and a fifty-two week high of $34.00.

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Amer Sports from $28.00 to $31.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Citigroup boosted their price target on shares of Amer Sports from $24.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Wells Fargo & Company increased their price objective on shares of Amer Sports from $25.00 to $28.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. HSBC lowered shares of Amer Sports from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a report on Monday, December 16th. 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 research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.