Annex Advisory Services LLC Takes Position in Amer Sports, Inc. (NYSE:AS)

Annex Advisory Services LLC purchased a new stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 317,654 shares of the company's stock, valued at approximately $8,491,000. Annex Advisory Services LLC owned about 0.06% of Amer Sports at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in AS. FMR LLC boosted its stake in shares of Amer Sports by 250.7% in the fourth quarter. FMR LLC now owns 26,414,511 shares of the company's stock valued at $738,550,000 after purchasing an additional 18,881,504 shares during the period. Marshall Wace LLP boosted 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 valued at $92,720,000 after purchasing an additional 2,401,302 shares during the period. Junto Capital Management LP purchased a new position in shares of Amer Sports in the fourth quarter valued at approximately $66,793,000. WT Asset Management Ltd boosted its stake in shares of Amer Sports by 188.2% in the fourth quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company's stock valued at $100,834,000 after purchasing an additional 2,355,182 shares during the period. Finally, Oxbow Capital Management HK Ltd purchased a new position in shares of Amer Sports in the fourth quarter valued at approximately $41,940,000. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AS shares. Wells Fargo & Company set a $35.00 price objective on shares of 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 target on shares of Amer Sports from $28.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. TD Securities lifted their price target on shares of Amer Sports from $30.00 to $41.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Sanford C. Bernstein began coverage on shares of Amer Sports in a research note on Thursday, February 13th. They issued an "outperform" rating and a $38.00 price target for the company. Finally, UBS Group reiterated a "buy" rating and issued a $50.00 price target (up previously from $37.00) on shares of Amer Sports in a research note on Wednesday, May 21st. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $36.67.

Amer Sports Stock Up 0.4%

AS stock traded up $0.15 during midday trading on Friday, reaching $37.53. 4,035,654 shares of the company were exchanged, compared to its average volume of 2,974,334. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. Amer Sports, Inc. has a 1-year low of $10.11 and a 1-year high of $38.51. The stock's 50-day simple moving average is $28.45 and its 200 day simple moving average is $28.64. The company has a market cap of $20.79 billion, a price-to-earnings ratio of -268.05, a price-to-earnings-growth ratio of 0.72 and a beta of 3.64.

Amer Sports (NYSE:AS - Get Free Report) last announced its earnings results on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, beating 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 negative net margin of 0.74% and a positive return on equity of 3.15%. The company's quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 EPS. On average, equities analysts forecast 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.