Citigroup Inc. Buys 412,229 Shares of Amer Sports, Inc. $AS

Key Points

• Citigroup Inc. increased its stake in Amer Sports by 1,402.2% in Q1, acquiring 412,229 additional shares to reach a total of 441,628 shares, valued at approximately $11.8 million.
• Amer Sports reported a 24.5% year-over-year revenue increase, achieving $1.47 billion for the last quarter, significantly surpassing analyst expectations.
• The stock has a current rating of "Moderate Buy" with an average price target of $38.74, and various analysts have set higher price targets, forecasting continued positive performance.

Citigroup Inc. grew its holdings in Amer Sports, Inc. (NYSE:AS - Free Report) by 1,402.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 441,628 shares of the company's stock after acquiring an additional 412,229 shares during the period. Citigroup Inc. owned 0.08% of Amer Sports worth $11,805,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Candlestick Capital Management LP increased its stake in shares of Amer Sports by 1.7% in the fourth quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company's stock worth $108,052,000 after purchasing an additional 63,078 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Amer Sports by 262.5% in the fourth quarter. Marshall Wace LLP now owns 3,316,167 shares of the company's stock worth $92,720,000 after purchasing an additional 2,401,302 shares in the last quarter. Junto Capital Management LP purchased a new stake in shares of Amer Sports in the fourth quarter worth $66,793,000. Trivest Advisors Ltd grew its stake in Amer Sports by 47.9% during the first quarter. Trivest Advisors Ltd now owns 2,110,945 shares of the company's stock valued at $56,426,000 after acquiring an additional 683,445 shares in the last quarter. Finally, Oxbow Capital Management HK Ltd purchased a new position in Amer Sports during the fourth quarter valued at $41,940,000. 40.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. KGI Securities set a $44.30 target price on shares of Amer Sports and gave the company an "outperform" rating in a research note on Wednesday, June 25th. UBS Group reaffirmed a "buy" rating and set a $50.00 target price (up from $37.00) on shares of Amer Sports in a research note on Wednesday, May 21st. Morgan Stanley raised their target price on shares of Amer Sports from $28.00 to $33.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. Wells Fargo & Company set a $35.00 target price on shares of Amer Sports and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of Amer Sports from $45.00 to $46.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Amer Sports currently has an average rating of "Moderate Buy" and an average target price of $38.74.

Amer Sports Trading Down 2.4%

Shares of Amer Sports stock traded down $0.91 during trading on Monday, hitting $37.80. The stock had a trading volume of 4,250,368 shares, compared to its average volume of 3,930,171. The firm's fifty day simple moving average is $37.90 and its 200-day simple moving average is $31.97. The stock has a market cap of $20.94 billion, a PE ratio of 102.11, a PEG ratio of 1.58 and a beta of 3.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 0.80. Amer Sports, Inc. has a 12 month low of $11.58 and a 12 month high of $40.21.

Amer Sports (NYSE:AS - Get Free Report) last released its earnings results on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. Amer Sports had a net margin of 3.70% and a return on equity of 7.21%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the business earned $0.08 EPS. The business's revenue was up 24.5% on a year-over-year basis. As a group, sell-side analysts expect 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.