Amer Sports, Inc. (NYSE:AS) Holdings Raised by Bank of America Corp DE

Bank of America Corp DE grew its stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 957.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 384,705 shares of the company's stock after acquiring an additional 348,329 shares during the period. Bank of America Corp DE owned about 0.07% of Amer Sports worth $10,756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. bought a new position in Amer Sports during the third quarter worth $25,000. Dakota Wealth Management bought a new position in shares of Amer Sports in the 4th quarter worth about $1,083,000. SG Americas Securities LLC acquired a new position in shares of Amer Sports in the 4th quarter valued at about $269,000. Exchange Traded Concepts LLC bought a new stake in shares of Amer Sports during the 4th quarter valued at about $2,513,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Amer Sports during the 4th quarter valued at about $104,000. Institutional investors own 40.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on AS shares. Sanford C. Bernstein assumed coverage on Amer Sports in a research note on Thursday, February 13th. They issued an "outperform" rating and a $38.00 target price for the company. Wells Fargo & Company set a $35.00 price objective on Amer Sports and gave the company an "equal weight" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group upped 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. TD Securities raised their target price on Amer Sports from $30.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley boosted their price target 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. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.67.

Amer Sports Price Performance

AS stock traded down $0.94 on Thursday, hitting $36.80. 12,714,663 shares of the company's stock traded hands, compared to its average volume of 2,846,747. The stock has a market cap of $20.38 billion, a price-to-earnings ratio of -262.80, a P/E/G ratio of 0.72 and a beta of 2.76. Amer Sports, Inc. has a 1-year low of $10.11 and a 1-year high of $38.51. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average of $27.29 and a 200-day moving average of $27.84.

Amer Sports (NYSE:AS - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.38 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The company's revenue was up 24.5% compared to the same quarter last year. During the same period last year, the company posted $0.08 EPS. On average, 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.