Jennison Associates LLC Takes Position in Amer Sports, Inc. (NYSE:AS)

Jennison Associates LLC purchased 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 13F filing with the Securities and Exchange Commission. The firm purchased 74,003 shares of the company's stock, valued at approximately $1,978,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC boosted 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 worth $97,000 after purchasing an additional 1,250 shares during the period. Signaturefd LLC boosted 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 worth $116,000 after purchasing an additional 1,073 shares during the period. Keel Point LLC purchased a new position in shares of Amer Sports during the 4th quarter worth approximately $234,000. Vontobel Holding Ltd. purchased a new position in shares of Amer Sports during the 1st quarter worth approximately $245,000. Finally, Magnetar Financial LLC purchased a new position in shares of Amer Sports during the 4th quarter worth approximately $275,000. Institutional investors and hedge funds own 40.25% of the company's stock.

Amer Sports Stock Up 1.7%

Shares of AS traded up $0.62 during midday trading on Friday, reaching $37.44. The stock had a trading volume of 500,779 shares, compared to its average volume of 3,991,175. Amer Sports, Inc. has a 1-year low of $10.11 and a 1-year high of $40.21. The company's fifty day simple moving average is $37.42 and its two-hundred day simple moving average is $31.13. The company has a market cap of $20.74 billion, a price-to-earnings ratio of 101.21, a PEG ratio of 1.54 and a beta of 3.36. 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 (NYSE:AS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, topping 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 firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business earned $0.08 EPS. Amer Sports's revenue for the quarter was up 24.5% compared to the same quarter last year. Equities research analysts expect that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AS. Piper Sandler began coverage on shares of Amer Sports in a research report on Thursday, June 26th. They set an "overweight" rating and a $45.00 price objective for the company. The Goldman Sachs Group increased 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. Morgan Stanley raised their price target on shares of Amer Sports from $28.00 to $33.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 21st. TD Securities raised their price target on shares of Amer Sports from $30.00 to $41.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company set a $35.00 price target on shares of Amer Sports and gave the company an "equal weight" rating in a research report on Wednesday, May 21st. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amer Sports has a consensus rating of "Moderate Buy" and an average price target of $37.88.

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.