West Michigan Advisors LLC Acquires New Position in Amer Sports, Inc. (NYSE:AS)

Key Points

• West Michigan Advisors LLC acquired approximately 16,877 shares of Amer Sports, Inc. for about $451,000 during the first quarter.
• Analysts have positive outlooks for Amer Sports, with price targets raised by firms like TD Securities (from $30 to $41) and Morgan Stanley (from $28 to $33).
• Amer Sports reported a 24.5% revenue increase year-over-year, with earnings per share of $0.27, exceeding analysts' expectations.

West Michigan Advisors LLC purchased a new stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,877 shares of the company's stock, valued at approximately $451,000.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its position in Amer Sports by 250.7% during 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. Candlestick Capital Management LP increased its position in shares of Amer Sports by 1.7% during the fourth quarter. Candlestick Capital Management LP now owns 3,864,510 shares of the company's stock valued at $108,052,000 after buying an additional 63,078 shares during the period. Marshall Wace LLP raised its stake in Amer Sports by 262.5% in the fourth quarter. Marshall Wace LLP now owns 3,316,167 shares of the company's stock worth $92,720,000 after buying an additional 2,401,302 shares in the last quarter. Junto Capital Management LP purchased a new stake in Amer Sports in the fourth quarter worth about $66,793,000. Finally, Trivest Advisors Ltd boosted its position in Amer Sports by 47.9% during the 1st quarter. Trivest Advisors Ltd now owns 2,110,945 shares of the company's stock valued at $56,426,000 after acquiring an additional 683,445 shares in the last quarter. Hedge funds and other institutional investors own 40.25% of the company's stock.

Amer Sports Stock Performance

AS traded down $1.18 during midday trading on Thursday, hitting $37.81. 3,461,052 shares of the company traded hands, compared to its average volume of 2,786,618. The company's 50-day moving average is $37.81 and its 200 day moving average is $31.70. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $20.94 billion, a PE ratio of 102.18, a price-to-earnings-growth ratio of 1.59 and a beta of 3.31. Amer Sports, Inc. has a 52 week low of $11.03 and a 52 week high of $40.21.

Amer Sports (NYSE:AS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.12. Amer Sports had a net margin of 3.70% and a return on equity of 7.21%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The firm's revenue for the quarter was up 24.5% compared to the same quarter last year. On average, research analysts expect that Amer Sports, Inc. will post 0.46 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on AS. KGI Securities set a $44.30 target price on Amer Sports and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Piper Sandler assumed coverage on Amer Sports in a report on Thursday, June 26th. They issued an "overweight" rating and a $45.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Amer Sports from $45.00 to $46.00 and gave the company an "overweight" rating in a report on Monday, July 28th. UBS Group reissued a "buy" rating and set a $50.00 price target (up from $37.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company set a $35.00 price objective on shares of Amer Sports and gave the stock an "equal weight" rating in a 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Amer Sports currently has an average rating of "Moderate Buy" and a consensus price target 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.