DnB Asset Management AS Buys Shares of 17,405 Amer Sports, Inc. (NYSE:AS)

DnB Asset Management AS purchased a new position in shares of Amer Sports, Inc. (NYSE:AS) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 17,405 shares of the company’s stock, valued at approximately $487,000.

Several other institutional investors have also modified their holdings of the business. West Branch Capital LLC boosted its stake in Amer Sports by 14,285.7% in the 4th quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock worth $28,000 after purchasing an additional 1,000 shares during the period. Kieckhefer Group LLC bought a new position in shares of Amer Sports during the fourth quarter worth about $42,000. JPMorgan Chase & Co. acquired a new stake in Amer Sports in the 3rd quarter valued at approximately $25,000. GAMMA Investing LLC lifted its stake in Amer Sports by 61.8% in the 4th quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock valued at $54,000 after acquiring an additional 742 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Amer Sports during the 4th quarter worth approximately $104,000. Institutional investors own 40.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AS shares. TD Cowen boosted their price objective on shares of Amer Sports from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company boosted their price target on shares of Amer Sports from $25.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price objective on Amer Sports from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. The Goldman Sachs Group upped their target price on Amer Sports from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Robert W. Baird raised their price target on Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.64.

Amer Sports Stock Up 5.8 %

AS opened at $28.37 on Thursday. The stock’s fifty day simple moving average is $29.45 and its 200 day simple moving average is $25.05. Amer Sports, Inc. has a 1-year low of $10.11 and a 1-year high of $34.00. The stock has a market cap of $15.71 billion and a PE ratio of -202.63. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.60 billion. The business’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, research analysts expect that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

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.