135,096 Shares in Amer Sports, Inc. (NYSE:AS) Bought by Keystone Investors PTE Ltd.

Key Points

• Keystone Investors PTE Ltd. acquired 135,096 shares of Amer Sports, Inc., valued at approximately $3.6 million, making it the 14th largest holding in their portfolio.
• Amer Sports reported a 24.5% year-over-year increase in revenue, totaling $1.47 billion, and earnings per share of $0.27, exceeding analyst estimates.
• Analysts have a consensus rating of "Moderate Buy" for Amer Sports, with an average price target of $38.74, indicating a positive outlook on the stock's performance.

Keystone Investors PTE Ltd. purchased a new stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 135,096 shares of the company's stock, valued at approximately $3,611,000. Amer Sports comprises approximately 0.5% of Keystone Investors PTE Ltd.'s portfolio, making the stock its 14th biggest position.

Other large investors have also recently modified their holdings of 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 valued at $97,000 after acquiring an additional 1,250 shares during the last quarter. Signaturefd LLC lifted its position in Amer Sports by 19.1% in the 1st quarter. Signaturefd LLC now owns 4,925 shares of the company's stock worth $132,000 after buying an additional 789 shares during the last quarter. Keel Point LLC bought a new stake in Amer Sports in the 4th quarter worth approximately $234,000. Vontobel Holding Ltd. bought a new stake in Amer Sports in the 1st quarter worth approximately $245,000. Finally, Sandia Investment Management LP bought a new stake in Amer Sports in the 4th quarter worth approximately $280,000. Institutional investors own 40.25% of the company's stock.

Amer Sports Trading Down 1.6%

Shares of AS traded down $0.62 during mid-day trading on Friday, hitting $37.21. 3,652,314 shares of the company's stock traded hands, compared to its average volume of 2,823,746. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.24. Amer Sports, Inc. has a 1 year low of $11.03 and a 1 year high of $40.21. The firm has a market capitalization of $20.61 billion, a P/E ratio of 100.57, a PEG ratio of 1.52 and a beta of 3.31. The business's 50-day moving average price is $37.83 and its 200-day moving average price is $31.75.

Amer Sports (NYSE:AS - Get Free Report) last posted its earnings results 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 return on equity of 7.21% and a net margin of 3.70%. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the firm earned $0.08 earnings per share. The business's revenue was up 24.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Amer Sports, Inc. will post 0.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on AS shares. Citigroup restated a "buy" rating and issued a $42.00 target price (up previously from $30.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Morgan Stanley boosted their target price 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. Wall Street Zen downgraded Amer Sports from a "buy" rating to a "hold" rating in a research report on Saturday. Piper Sandler started coverage on Amer Sports in a research report on Thursday, June 26th. They issued an "overweight" rating and a $45.00 target price for the company. Finally, TD Securities boosted their target price on Amer Sports from $30.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.74.

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.