17,405 Shares in Amer Sports, Inc. (NYSE:AS) Bought by DnB Asset Management AS

DnB Asset Management AS purchased a new stake in Amer Sports, Inc. (NYSE:AS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,405 shares of the company’s stock, valued at approximately $487,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of AS. FMR LLC raised its stake in shares of Amer Sports by 71.2% in the 3rd quarter. FMR LLC now owns 7,533,007 shares of the company’s stock valued at $120,151,000 after buying an additional 3,133,312 shares in the last quarter. BNP Paribas Financial Markets raised its position in Amer Sports by 734.8% in the third quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock worth $1,288,000 after purchasing an additional 71,086 shares in the last quarter. Walleye Capital LLC bought a new position in Amer Sports during the third quarter worth about $274,000. Verition Fund Management LLC acquired a new stake in Amer Sports during the third quarter valued at approximately $301,000. Finally, Polymer Capital Management HK LTD boosted its holdings in Amer Sports by 236.1% during the third quarter. Polymer Capital Management HK LTD now owns 438,966 shares of the company’s stock valued at $7,002,000 after purchasing an additional 308,376 shares in the last quarter. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AS. Citigroup boosted their price target on Amer Sports from $24.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group boosted their target price on shares of Amer Sports from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Hsbc Global Res cut shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Evercore ISI lifted their price target on shares of Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, UBS Group upped their price objective on shares of Amer Sports from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.64.

Amer Sports Trading Up 5.8 %

Shares of 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. The firm has a market capitalization of $15.71 billion and a PE ratio of -202.63. Amer Sports, Inc. has a 12-month low of $10.11 and a 12-month high of $34.00. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, research 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.