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

Friedenthal Financial acquired a new stake in Amer Sports, Inc. (NYSE:AS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 36,853 shares of the company's stock, valued at approximately $985,000.

Several other institutional investors and hedge funds have also modified their holdings of AS. FMR LLC increased its stake in shares of Amer Sports by 250.7% in the 4th quarter. FMR LLC now owns 26,414,511 shares of the company's stock valued at $738,550,000 after purchasing an additional 18,881,504 shares in the last quarter. Brilliance Asset Management Ltd. increased its stake in shares of Amer Sports by 5.1% in the 4th quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company's stock valued at $113,883,000 after purchasing an additional 196,380 shares in the last quarter. Candlestick Capital Management LP increased its stake in shares of Amer Sports by 1.7% in the 4th quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company's stock valued at $108,052,000 after purchasing an additional 63,078 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Amer Sports by 262.5% in the 4th 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 in the last quarter. Finally, Junto Capital Management LP purchased a new stake in Amer Sports during the 4th quarter worth approximately $66,793,000. Institutional investors and hedge funds own 40.25% of the company's stock.

Wall Street Analysts Forecast Growth

AS has been the subject of several research reports. Wall Street Zen upgraded Amer Sports from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Morgan Stanley boosted their price objective on Amer Sports from $28.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price objective on Amer Sports from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. UBS Group reiterated a "buy" rating and set a $50.00 price objective (up from $37.00) on shares of Amer Sports in a research note on Wednesday, May 21st. Finally, Citigroup reiterated a "buy" rating and set a $42.00 price objective (up from $30.00) on shares of Amer Sports in a research note on Wednesday, May 21st. Four 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.67.

Amer Sports Stock Performance

Shares of AS stock opened at $36.26 on Thursday. The firm has a market capitalization of $20.08 billion, a P/E ratio of 98.00, a P/E/G ratio of 1.35 and a beta of 3.64. The company's fifty day moving average price is $30.60 and its two-hundred day moving average price is $29.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 0.80. Amer Sports, Inc. has a 12 month low of $10.11 and a 12 month high of $39.17.

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

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