Armistice Capital LLC Buys Shares of 108,994 Amer Sports, Inc. $AS

Key Points

• Armistice Capital LLC acquired 108,994 shares of Amer Sports, Inc. for about $2.9 million during the first quarter, reflecting a growing interest in the company from institutional investors.
• Amer Sports revealed strong quarterly results, with earnings per share (EPS) of $0.06, exceeding forecasts, and reported revenue of $1.24 billion, which is up 23.4% compared to the previous year.
• Multiple analysts have given Amer Sports a consensus price target of $41.62, with ratings ranging from "Strong Buy" to "Hold," indicating positive sentiment around the stock's future performance.

Armistice Capital LLC acquired a new position in Amer Sports, Inc. (NYSE:AS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 108,994 shares of the company's stock, valued at approximately $2,913,000.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in Amer Sports by 957.6% in the 4th quarter. Bank of America Corp DE now owns 384,705 shares of the company's stock worth $10,756,000 after buying an additional 348,329 shares during the last quarter. Citigroup Inc. lifted its stake in Amer Sports by 1,402.2% in the 1st quarter. Citigroup Inc. now owns 441,628 shares of the company's stock worth $11,805,000 after purchasing an additional 412,229 shares in the last quarter. Deutsche Bank AG lifted its stake in Amer Sports by 25.9% in the 1st quarter. Deutsche Bank AG now owns 1,160,491 shares of the company's stock worth $31,020,000 after purchasing an additional 238,937 shares in the last quarter. Vontobel Holding Ltd. purchased a new position in Amer Sports in the 1st quarter worth approximately $245,000. Finally, Handelsbanken Fonder AB lifted its stake in Amer Sports by 59.4% in the 1st quarter. Handelsbanken Fonder AB now owns 27,100 shares of the company's stock worth $724,000 after purchasing an additional 10,100 shares in the last quarter. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on AS. Wall Street Zen lowered shares of Amer Sports from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Bank of America raised their target price on shares of Amer Sports from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. HSBC set a $50.00 target price on shares of Amer Sports and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Zacks Research lowered shares of Amer Sports from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Finally, UBS Group raised their target price on shares of Amer Sports from $50.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold 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 $41.62.

Amer Sports Trading Down 3.3%

NYSE AS traded down $1.24 on Friday, reaching $36.56. The stock had a trading volume of 5,035,291 shares, compared to its average volume of 4,075,920. The firm has a market capitalization of $20.25 billion, a price-to-earnings ratio of 89.16, a P/E/G ratio of 1.27 and a beta of 3.30. The company has a quick ratio of 0.61, a current ratio of 1.60 and a debt-to-equity ratio of 0.24. Amer Sports, Inc. has a 12-month low of $13.43 and a 12-month high of $42.36. The stock has a fifty day moving average price of $38.42 and a two-hundred day moving average price of $32.71.

Amer Sports (NYSE:AS - Get Free Report) last announced its earnings results on Tuesday, August 19th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.18 billion. Amer Sports had a return on equity of 6.87% and a net margin of 3.93%.The firm's quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 earnings per share. Amer Sports has set its FY 2025 guidance at 0.770-0.820 EPS. Q3 2025 guidance at 0.200-0.220 EPS. As a group, sell-side analysts forecast 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.