Handelsbanken Fonder AB Has $724,000 Stock Position in Amer Sports, Inc. (NYSE:AS)

Handelsbanken Fonder AB raised its stake in Amer Sports, Inc. (NYSE:AS - Free Report) by 59.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,100 shares of the company's stock after purchasing an additional 10,100 shares during the quarter. Handelsbanken Fonder AB's holdings in Amer Sports were worth $724,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAM Holding AG bought a new stake in shares of Amer Sports during the 4th quarter worth about $13,460,000. Proficio Capital Partners LLC bought a new stake in shares of Amer Sports during the fourth quarter worth approximately $618,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Amer Sports during the fourth quarter worth approximately $283,000. Mainstream Capital Management LLC acquired a new position in shares of Amer Sports in the fourth quarter valued at approximately $190,000. Finally, Aigen Investment Management LP bought a new position in shares of Amer Sports during the fourth quarter worth approximately $379,000. Institutional investors and hedge funds own 40.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AS shares. Wall Street Zen raised Amer Sports from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. TD Securities upped their price target on shares of Amer Sports from $30.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. UBS Group reiterated a "buy" rating and issued a $50.00 price objective (up previously from $37.00) on shares of Amer Sports in a research note on Wednesday, May 21st. Citigroup restated a "buy" rating and set a $42.00 target price (up previously from $30.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. boosted their price target on Amer Sports from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $36.67.

Amer Sports Price Performance

Shares of Amer Sports stock traded up $0.88 during midday trading on Monday, hitting $37.12. 3,263,534 shares of the company traded hands, compared to its average volume of 3,036,096. The firm's fifty day moving average price is $29.79 and its 200-day moving average price is $29.06. The stock has a market cap of $20.56 billion, a price-to-earnings ratio of -265.09, a PEG ratio of 0.72 and a beta of 3.64. Amer Sports, Inc. has a 12 month low of $10.11 and a 12 month high of $39.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62.

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, topping analysts' consensus estimates of $0.15 by $0.12. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.38 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The company's revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 earnings per share. As a group, sell-side analysts forecast that Amer Sports, Inc. will post 0.46 earnings per share for the current 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.