Capricorn Fund Managers Ltd Decreases Position in Amer Sports, Inc. (NYSE:AS)

Key Points

• Capricorn Fund Managers Ltd has reduced its holdings in Amer Sports, Inc. by 18.5%, owning 110,000 shares after selling 25,000 shares in the 1st quarter.
• Amer Sports' stock recently opened at $38.60, demonstrating a market cap of $21.38 billion and a significant rise in earnings per share to $0.27 for the recent quarter.
• Recent analyst ratings have shown an optimistic outlook for Amer Sports, with several firms raising their price targets, including Goldman Sachs with a new target of $45.00.

Capricorn Fund Managers Ltd lowered its stake in Amer Sports, Inc. (NYSE:AS - Free Report) by 18.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,000 shares of the company's stock after selling 25,000 shares during the period. Amer Sports comprises 1.6% of Capricorn Fund Managers Ltd's investment portfolio, making the stock its 28th biggest position. Capricorn Fund Managers Ltd's holdings in Amer Sports were worth $2,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE raised its position 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 valued at $10,756,000 after purchasing an additional 348,329 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in Amer Sports during the first quarter worth approximately $245,000. Pamalican Asset Management Ltd purchased a new stake in Amer Sports during the fourth quarter worth approximately $20,970,000. Charles Schwab Investment Management Inc. purchased a new stake in Amer Sports during the fourth quarter worth approximately $283,000. Finally, Handelsbanken Fonder AB lifted its stake in Amer Sports by 59.4% during the first quarter. Handelsbanken Fonder AB now owns 27,100 shares of the company's stock worth $724,000 after purchasing an additional 10,100 shares during the last quarter. Institutional investors and hedge funds own 40.25% of the company's stock.

Amer Sports Price Performance

Shares of Amer Sports stock traded down $1.05 during trading on Friday, reaching $36.49. The company's stock had a trading volume of 3,471,816 shares, compared to its average volume of 2,664,172. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.24. Amer Sports, Inc. has a 12-month low of $10.11 and a 12-month high of $40.21. The company has a market capitalization of $20.21 billion, a P/E ratio of 98.62, a price-to-earnings-growth ratio of 1.53 and a beta of 3.31. The business has a 50 day moving average price of $37.74 and a 200-day moving average price of $31.46.

Amer Sports (NYSE:AS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.12. Amer Sports had a return on equity of 7.21% and a net margin of 3.70%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business earned $0.08 earnings per share. The company's revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amer Sports, Inc. will post 0.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on AS. KGI Securities set a $44.30 price target on Amer Sports and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Wells Fargo & Company set a $35.00 price target on Amer Sports and gave the stock an "equal weight" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. lifted their price target on Amer Sports from $45.00 to $46.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Morgan Stanley lifted their price target on Amer Sports from $28.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 21st. Finally, The Goldman Sachs Group lifted their price target on Amer Sports from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $38.74.

Amer Sports Company 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.