Bank of New York Mellon Corp Acquires 72,012 Shares of Amer Sports, Inc. (NYSE:AS)

Bank of New York Mellon Corp increased its position in Amer Sports, Inc. (NYSE:AS - Free Report) by 46.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 227,375 shares of the company's stock after acquiring an additional 72,012 shares during the quarter. Bank of New York Mellon Corp's holdings in Amer Sports were worth $6,078,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AS. Sterling Capital Management LLC lifted its position in Amer Sports by 55.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock worth $97,000 after buying an additional 1,250 shares during the last quarter. Keel Point LLC bought a new stake in shares of Amer Sports in the 4th quarter valued at about $234,000. Vontobel Holding Ltd. bought a new stake in Amer Sports in the first quarter valued at approximately $245,000. Sandia Investment Management LP bought a new stake in Amer Sports in the fourth quarter valued at approximately $280,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Amer Sports during the fourth quarter valued at approximately $283,000. 40.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

AS has been the subject of a number of analyst reports. UBS Group reaffirmed a "buy" rating and set a $50.00 target price (up previously from $37.00) on shares of Amer Sports in a research note on Wednesday, May 21st. KGI Securities set a $44.30 price target on Amer Sports and gave the company an "outperform" rating in a report on Wednesday, June 25th. Piper Sandler assumed coverage on Amer Sports in a research report on Thursday, June 26th. They issued an "overweight" rating and a $45.00 price target for the company. The Goldman Sachs Group lifted their price objective on Amer Sports from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Finally, 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. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.88.

Amer Sports Stock Performance

NYSE:AS traded up $0.85 during mid-day trading on Friday, hitting $37.67. 2,457,113 shares of the company traded hands, compared to its average volume of 3,514,069. The stock's fifty day moving average price is $37.55 and its 200-day moving average price is $31.19. Amer Sports, Inc. has a one year low of $10.11 and a one year high of $40.21. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.24. The firm has a market cap of $20.86 billion, a price-to-earnings ratio of 101.81, a price-to-earnings-growth ratio of 1.54 and a beta of 3.36.

Amer Sports (NYSE:AS - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $1.38 billion. Amer Sports had a return on equity of 7.21% and a net margin of 3.70%. The firm's 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. Research analysts anticipate that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

About Amer Sports

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.