ING Groep NV Invests $2.05 Million in Amer Sports, Inc. (NYSE:AS)

Key Points

• ING Groep NV has acquired a new stake in Amer Sports, purchasing 76,800 shares valued at approximately $2.05 million during the first quarter.
• Amer Sports reported a quarterly earnings per share (EPS) of $0.27, surpassing analysts' estimates of $0.15, and achieved a revenue of $1.47 billion.
• Wall Street analysts are optimistic about Amer Sports, with several raising price targets, and the stock currently holds an average rating of "Moderate Buy" with a consensus price target of $38.74.

ING Groep NV purchased a new stake in Amer Sports, Inc. (NYSE:AS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 76,800 shares of the company's stock, valued at approximately $2,053,000.

A number of other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in Amer Sports by 33,494.4% during the 4th quarter. JPMorgan Chase & Co. now owns 524,072 shares of the company's stock worth $14,653,000 after acquiring an additional 522,512 shares in the last quarter. Norges Bank purchased a new position in shares of Amer Sports during the fourth quarter worth about $12,424,000. Envestnet Asset Management Inc. increased its position in shares of Amer Sports by 16.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 36,018 shares of the company's stock worth $1,007,000 after purchasing an additional 5,157 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Amer Sports by 341.3% in the 4th quarter. Russell Investments Group Ltd. now owns 246,901 shares of the company's stock valued at $6,903,000 after purchasing an additional 190,951 shares during the last quarter. Finally, FMR LLC boosted its position 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 during the period. 40.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on AS. Citigroup reaffirmed a "buy" rating and set a $42.00 price target (up previously from $30.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Wall Street Zen raised shares of Amer Sports from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Piper Sandler initiated coverage on shares of Amer Sports in a research note on Thursday, June 26th. They set an "overweight" rating and a $45.00 price target for the company. The Goldman Sachs Group raised their price objective on shares of Amer Sports from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Finally, KGI Securities set a $44.30 target price on shares of Amer Sports and gave the company an "outperform" rating in a report on Wednesday, June 25th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $38.74.

Amer Sports Stock Down 1.6%

NYSE:AS traded down $0.62 during mid-day trading on Friday, hitting $37.21. The company had a trading volume of 3,652,314 shares, compared to its average volume of 2,823,746. The business has a fifty day simple moving average of $37.83 and a 200-day simple moving average of $31.74. The firm has a market capitalization of $20.61 billion, a price-to-earnings ratio of 61.02, a PEG ratio of 1.54 and a beta of 3.31. Amer Sports, Inc. has a 1 year low of $11.03 and a 1 year high of $40.21. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.24.

Amer Sports (NYSE:AS - Get Free Report) last announced its earnings results on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the business posted $0.08 EPS. The company's revenue was up 24.5% on a year-over-year basis. Equities analysts forecast 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.