Sabal Trust CO Lowers Stock Holdings in Amer Sports, Inc. (NYSE:AS)

Sabal Trust CO lessened its position in Amer Sports, Inc. (NYSE:AS - Free Report) by 19.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,708 shares of the company's stock after selling 15,360 shares during the quarter. Sabal Trust CO's holdings in Amer Sports were worth $1,676,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Lecap Asset Management Ltd. bought a new position in Amer Sports in the first quarter valued at $2,594,000. Friedenthal Financial bought a new position in shares of Amer Sports during the first quarter valued at about $985,000. Handelsbanken Fonder AB grew its stake in shares of Amer Sports by 59.4% during the first quarter. Handelsbanken Fonder AB now owns 27,100 shares of the company's stock valued at $724,000 after buying an additional 10,100 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Amer Sports by 14,640.1% during the first quarter. SG Americas Securities LLC now owns 1,418,001 shares of the company's stock valued at $37,903,000 after buying an additional 1,408,381 shares during the last quarter. Finally, Annex Advisory Services LLC bought a new position in shares of Amer Sports during the first quarter valued at about $8,491,000. Institutional investors own 40.25% of the company's stock.

Amer Sports Trading Up 4.1%

Shares of NYSE AS traded up $1.54 during trading hours on Friday, hitting $39.39. The company's stock had a trading volume of 10,436,182 shares, compared to its average volume of 3,101,916. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.80 and a current ratio of 1.66. The stock has a market cap of $21.81 billion, a price-to-earnings ratio of 106.45, a P/E/G ratio of 1.46 and a beta of 3.64. Amer Sports, Inc. has a 12 month low of $10.11 and a 12 month high of $39.66. The business has a 50-day simple moving average of $32.72 and a 200-day simple moving average of $29.85.

Amer Sports (NYSE:AS - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business posted $0.08 earnings per share. Amer Sports's quarterly revenue was up 24.5% compared to the same quarter last year. On average, analysts anticipate that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AS. Morgan Stanley raised 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. Citigroup reaffirmed a "buy" rating and set a $42.00 price objective (up from $30.00) on shares of Amer Sports in a research note on Wednesday, May 21st. UBS Group reaffirmed a "buy" rating and set a $50.00 price objective (up from $37.00) on shares of Amer Sports in a research note on Wednesday, May 21st. TD Securities raised their price objective on Amer Sports from $30.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company set a $35.00 price objective on Amer Sports and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Amer Sports currently has a consensus rating of "Moderate Buy" and an average target price of $37.81.

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.