Amer Sports, Inc. (NYSE:AS) Stake Lessened by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its position in Amer Sports, Inc. (NYSE:AS - Free Report) by 42.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,534 shares of the company's stock after selling 7,619 shares during the period. Ameriprise Financial Inc.'s holdings in Amer Sports were worth $295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Amer Sports in the fourth quarter valued at approximately $269,000. Choreo LLC purchased a new stake in Amer Sports in the fourth quarter valued at approximately $250,000. GAM Holding AG purchased a new stake in Amer Sports in the fourth quarter valued at approximately $13,460,000. Handelsbanken Fonder AB purchased a new stake in Amer Sports in the fourth quarter valued at approximately $475,000. Finally, Proficio Capital Partners LLC purchased a new stake in Amer Sports in the fourth quarter valued at approximately $618,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company set a $35.00 target price on shares of Amer Sports and gave the company an "equal weight" rating in a report on Wednesday, May 21st. Citigroup restated a "buy" rating and issued a $42.00 target price (up from $30.00) on shares of Amer Sports in a report on Wednesday, May 21st. Morgan Stanley boosted their target price on shares of Amer Sports from $28.00 to $33.00 and gave the company an "equal weight" rating in a report on Wednesday, May 21st. UBS Group reaffirmed a "buy" rating and set a $50.00 price target (up from $37.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Finally, Wall Street Zen upgraded shares of Amer Sports from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.67.

Amer Sports Stock Up 0.5%

Shares of AS traded up $0.18 during mid-day trading on Monday, reaching $37.70. 2,934,499 shares of the stock traded hands, compared to its average volume of 2,974,175. The firm has a market cap of $20.88 billion, a price-to-earnings ratio of -269.27, a P/E/G ratio of 0.72 and a beta of 3.64. The stock has a fifty day simple moving average of $28.64 and a 200 day simple moving average of $28.73. Amer Sports, Inc. has a 12-month low of $10.11 and a 12-month high of $38.51. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.12. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.38 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The business's quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 earnings per share. Sell-side analysts expect that Amer Sports, Inc. will post 0.46 EPS for the current fiscal 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.