China Universal Asset Management Co. Ltd. Grows Stock Position in Amer Sports, Inc. (NYSE:AS)

China Universal Asset Management Co. Ltd. boosted its position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 47.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,970 shares of the company's stock after buying an additional 37,500 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Amer Sports were worth $1,866,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Signaturefd LLC purchased a new stake in shares of Amer Sports in the 3rd quarter worth approximately $49,000. CWM LLC purchased a new stake in Amer Sports during the third quarter worth $73,000. Dnca Finance bought a new stake in Amer Sports during the 2nd quarter valued at $81,000. Amalgamated Bank purchased a new position in shares of Amer Sports in the 2nd quarter valued at $83,000. Finally, Artemis Investment Management LLP bought a new position in shares of Amer Sports in the 3rd quarter worth $293,000. Institutional investors own 40.25% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. TD Cowen increased their target price on shares of Amer Sports from $17.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. The Goldman Sachs Group boosted their target price on Amer Sports from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Nomura Securities upgraded Amer Sports to a "strong-buy" rating in a research note on Tuesday, September 24th. UBS Group upped their price objective on shares of Amer Sports from $17.00 to $19.00 and gave the company a "buy" rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company cut shares of Amer Sports from an "overweight" rating to an "equal weight" rating and lifted their target price for the stock from $17.00 to $19.00 in a research note on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.86.

Amer Sports Stock Performance

Shares of NYSE AS traded up $0.24 during midday trading on Tuesday, hitting $18.22. The stock had a trading volume of 1,116,079 shares, compared to its average volume of 1,657,098. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87. The stock has a 50 day simple moving average of $15.92 and a 200-day simple moving average of $14.25. Amer Sports, Inc. has a 1 year low of $10.11 and a 1 year high of $19.73.

Amer Sports (NYSE:AS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.11. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The company had revenue of $993.80 million during the quarter, compared to analyst estimates of $947.59 million. Amer Sports's revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts predict that Amer Sports, Inc. will post 0.43 EPS for the current fiscal year.

Amer Sports Company 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.