Friedenthal Financial Invests $985,000 in Amer Sports, Inc. (NYSE:AS)

Friedenthal Financial bought a new position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 36,853 shares of the company's stock, valued at approximately $985,000.

Other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in shares of Amer Sports by 55.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,487 shares of the company's stock valued at $97,000 after acquiring an additional 1,250 shares during the period. Signaturefd LLC lifted its position in shares of Amer Sports by 35.0% during the 4th quarter. Signaturefd LLC now owns 4,136 shares of the company's stock valued at $116,000 after acquiring an additional 1,073 shares during the period. Mainstream Capital Management LLC bought a new stake in shares of Amer Sports during the 4th quarter valued at $190,000. Keel Point LLC bought a new stake in shares of Amer Sports during the 4th quarter valued at $234,000. Finally, Magnetar Financial LLC bought a new stake in shares of Amer Sports during the 4th quarter valued at $275,000. 40.25% of the stock is currently owned by institutional investors.

Amer Sports Price Performance

AS traded up $0.25 on Friday, reaching $36.44. The stock had a trading volume of 3,333,270 shares, compared to its average volume of 3,070,183. Amer Sports, Inc. has a fifty-two week low of $10.11 and a fifty-two week high of $39.17. The firm has a 50-day moving average of $31.17 and a 200-day moving average of $29.40. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $20.18 billion, a price-to-earnings ratio of 98.47, a price-to-earnings-growth ratio of 1.36 and a beta of 3.64.

Amer Sports (NYSE:AS - Get Free Report) last issued its earnings results on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the firm earned $0.08 EPS. The business'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.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup restated a "buy" rating and set a $42.00 price objective (up from $30.00) on shares of Amer Sports in a research report on Wednesday, May 21st. UBS Group restated a "buy" rating and set a $50.00 price objective (up from $37.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Wall Street Zen upgraded Amer Sports from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Morgan Stanley upped their price objective 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 upped their price objective on Amer Sports from $28.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amer Sports currently has an average rating of "Moderate Buy" and a consensus price target of $36.67.

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.