Entropy Technologies LP Invests $995,000 in Amer Sports, Inc. (NYSE:AS)

Key Points

• Entropy Technologies LP has acquired a new stake in Amer Sports, totaling 37,238 shares valued at approximately $995,000 during the first quarter of the year.
• Analysts have expressed positive sentiment towards Amer Sports, with several firms like Citigroup and UBS Group raising their price targets significantly, suggesting a potential for growth.
• Amer Sports reported a net margin of 3.70% and an increase in quarterly revenue by 24.5% year-over-year, highlighting its financial performance and growth prospects.

Entropy Technologies LP acquired a new stake in Amer Sports, Inc. (NYSE:AS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 37,238 shares of the company's stock, valued at approximately $995,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Candlestick Capital Management LP increased its position in shares of Amer Sports by 1.7% during the fourth quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company's stock worth $108,052,000 after acquiring an additional 63,078 shares during the last quarter. Marshall Wace LLP grew its position 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 last quarter. Junto Capital Management LP acquired a new position in Amer Sports in the 4th quarter valued at approximately $66,793,000. Trivest Advisors Ltd increased its holdings in shares of Amer Sports by 47.9% in the first quarter. Trivest Advisors Ltd now owns 2,110,945 shares of the company's stock valued at $56,426,000 after purchasing an additional 683,445 shares in the last quarter. Finally, Oxbow Capital Management HK Ltd bought a new stake in shares of Amer Sports during the 4th quarter valued at $41,940,000. 40.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on AS. UBS Group reissued a "buy" rating and set a $50.00 price target (up from $37.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Wells Fargo & Company set a $35.00 price target on shares of Amer Sports and gave the company an "equal weight" rating in a report on Wednesday, May 21st. Piper Sandler began coverage on shares of Amer Sports in a research note on Thursday, June 26th. They issued an "overweight" rating and a $45.00 target price on the stock. Citigroup reissued a "buy" rating and set a $42.00 price target (up from $30.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Finally, Wall Street Zen lowered shares of Amer Sports from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $38.74.

Amer Sports Stock Performance

NYSE:AS traded up $0.70 during trading hours on Friday, reaching $38.62. The stock had a trading volume of 2,619,869 shares, compared to its average volume of 3,923,113. The stock has a market cap of $21.39 billion, a P/E ratio of 104.58, a price-to-earnings-growth ratio of 1.59 and a beta of 3.31. Amer Sports, Inc. has a 12-month low of $11.31 and a 12-month high of $40.21. The stock has a 50 day simple moving average of $37.88 and a 200 day simple moving average of $31.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.80 and a current ratio of 1.66.

Amer Sports (NYSE:AS - Get Free Report) last posted its 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. The company had revenue of $1.47 billion for 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%. Amer Sports's revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share. On average, research analysts forecast that Amer Sports, Inc. will post 0.46 EPS for the current fiscal year.

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.