Mackenzie Financial Corp Boosts Stake in Amer Sports, Inc. (NYSE:AS)

Key Points

• Mackenzie Financial Corp has increased its stake in Amer Sports, Inc. by 64.6%, owning 48,205 shares worth approximately $1.29 million following the acquisition of 18,920 shares in the first quarter.
• Bank of America Corp DE raised its stake by an impressive 957.6%, now holding 384,705 shares valued at $10.76 million after adding 348,329 shares in the previous quarter.
• Amer Sports reported earnings of $0.27 per share, exceeding analysts' expectations with revenue of $1.47 billion for the quarter, reflecting a 24.5% increase from the same period last year.

Mackenzie Financial Corp raised its stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 64.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,205 shares of the company's stock after acquiring an additional 18,920 shares during the period. Mackenzie Financial Corp's holdings in Amer Sports were worth $1,289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in Amer Sports by 957.6% during the 4th quarter. Bank of America Corp DE now owns 384,705 shares of the company's stock valued at $10,756,000 after acquiring an additional 348,329 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in Amer Sports during the 1st quarter valued at approximately $245,000. Handelsbanken Fonder AB raised its stake in Amer Sports by 59.4% during the 1st quarter. Handelsbanken Fonder AB now owns 27,100 shares of the company's stock valued at $724,000 after acquiring an additional 10,100 shares during the last quarter. Norges Bank purchased a new stake in Amer Sports during the 4th quarter valued at approximately $12,424,000. Finally, EAM Global Investors LLC purchased a new stake in Amer Sports during the 4th quarter valued at approximately $5,845,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on AS. Morgan Stanley upped their price objective on Amer Sports from $28.00 to $33.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. 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. Citigroup reiterated 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. Wall Street Zen upgraded Amer Sports from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Finally, UBS Group reiterated a "buy" rating and set a $50.00 target price (up previously from $37.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Amer Sports has an average rating of "Moderate Buy" and a consensus target price of $38.74.

Amer Sports Stock Performance

AS opened at $38.65 on Tuesday. The stock has a market cap of $21.41 billion, a P/E ratio of 104.47, a P/E/G ratio of 1.49 and a beta of 3.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 0.80. The stock's 50 day simple moving average is $37.74 and its 200 day simple moving average is $31.49. Amer Sports, Inc. has a 1-year low of $10.11 and a 1-year high of $40.21.

Amer Sports (NYSE:AS - Get Free Report) last released its quarterly 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 business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.38 billion. Amer Sports had a return on equity of 7.21% and a net margin of 3.70%. The company's revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. As a group, equities analysts anticipate that Amer Sports, Inc. will post 0.46 EPS for the current fiscal 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.

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