OVERSEA CHINESE BANKING Corp Ltd Takes Position in Amer Sports, Inc. (NYSE:AS)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 155,280 shares of the company's stock, valued at approximately $4,342,000.

Other institutional investors have also recently added to or reduced their stakes in the company. West Branch Capital LLC raised its position in Amer Sports by 14,285.7% in the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company's stock valued at $28,000 after purchasing an additional 1,000 shares during the period. Kieckhefer Group LLC purchased a new stake in Amer Sports in the fourth quarter valued at $42,000. JPMorgan Chase & Co. purchased a new stake in Amer Sports in the third quarter valued at $25,000. GAMMA Investing LLC raised its position in Amer Sports by 61.8% in the fourth quarter. GAMMA Investing LLC now owns 1,942 shares of the company's stock valued at $54,000 after purchasing an additional 742 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Amer Sports in the fourth quarter valued at $104,000. Hedge funds and other institutional investors own 40.25% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group lifted 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. Robert W. Baird lifted their price objective on Amer Sports from $24.00 to $30.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. The Goldman Sachs Group lifted their price objective on Amer Sports from $28.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Citigroup lifted their price objective on Amer Sports from $24.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Finally, Sanford C. Bernstein began coverage on Amer Sports in a research note on Thursday, February 13th. They issued an "outperform" rating and a $38.00 price objective for the company. Four 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. Based on data from MarketBeat.com, Amer Sports presently has a consensus rating of "Moderate Buy" and an average price target of $32.64.

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Amer Sports Stock Down 0.8 %

AS traded down $0.23 on Friday, hitting $28.94. 2,001,867 shares of the company were exchanged, compared to its average volume of 2,219,772. Amer Sports, Inc. has a twelve month low of $10.11 and a twelve month high of $34.00. The company has a market cap of $16.03 billion and a price-to-earnings ratio of -206.67. 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 50-day moving average price of $29.78 and a two-hundred day moving average price of $24.28.

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