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

China Universal Asset Management Co. Ltd. reduced its stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 17.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,301 shares of the company's stock after selling 23,269 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Amer Sports were worth $3,002,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in shares of Amer Sports in the 4th quarter valued at approximately $618,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Amer Sports in the 4th quarter valued at approximately $283,000. Signaturefd LLC raised its stake in Amer Sports by 35.0% in the 4th quarter. Signaturefd LLC now owns 4,136 shares of the company's stock valued at $116,000 after acquiring an additional 1,073 shares during the period. OPTIMAS CAPITAL Ltd bought a new stake in Amer Sports in the 4th quarter valued at $4,468,000. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Amer Sports in the 4th quarter valued at $4,342,000. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on AS shares. KGI Securities set a $44.30 price objective on Amer Sports and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Wells Fargo & Company set a $35.00 price target on Amer Sports and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group lifted their price objective on Amer Sports from $28.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. UBS Group reaffirmed a "buy" rating and issued a $50.00 price objective (up from $37.00) on shares of Amer Sports in a research note on Wednesday, May 21st. Finally, TD Securities lifted their target price on Amer Sports from $30.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.81.

Amer Sports Stock Performance

Shares of NYSE AS traded up $0.01 during trading on Friday, reaching $38.15. 1,871,847 shares of the stock traded hands, compared to its average volume of 3,176,126. Amer Sports, Inc. has a 52-week low of $10.11 and a 52-week high of $40.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 0.80. The company has a 50-day moving average of $35.37 and a 200-day moving average of $30.47. The stock has a market capitalization of $21.13 billion, a P/E ratio of 103.11, a price-to-earnings-growth ratio of 1.56 and a beta of 3.36.

Amer Sports (NYSE:AS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.12. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.38 billion. Amer Sports had a return on equity of 7.21% and a net margin of 3.70%. The firm's quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 EPS. Analysts forecast that Amer Sports, Inc. will post 0.46 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.