Woodline Partners LP Purchases New Stake in Amer Sports, Inc. (NYSE:AS)

Woodline Partners LP bought a new stake in Amer Sports, Inc. (NYSE:AS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 505,538 shares of the company's stock, valued at approximately $14,135,000. Woodline Partners LP owned approximately 0.09% of Amer Sports at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AS. JPMorgan Chase & Co. bought a new stake in Amer Sports in the third quarter valued at $25,000. West Branch Capital LLC grew its position in Amer Sports by 14,285.7% in the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company's stock valued at $28,000 after acquiring an additional 1,000 shares during the period. Sterling Capital Management LLC grew its position in Amer Sports by 55.9% in the fourth 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 period. E Fund Management Hong Kong Co. Ltd. bought a new stake in Amer Sports in the fourth quarter valued at $104,000. Finally, Signaturefd LLC grew its position in Amer Sports by 35.0% in the fourth quarter. Signaturefd LLC now owns 4,136 shares of the company's stock valued at $116,000 after acquiring an additional 1,073 shares during the period. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on AS. Citigroup reiterated a "buy" rating and issued a $42.00 price target (up from $30.00) on shares of Amer Sports in a research report on Wednesday, May 21st. TD Securities increased their target price on Amer Sports from $30.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Wall Street Zen upgraded Amer Sports from a "hold" rating to a "buy" rating in a report on Saturday. UBS Group restated a "buy" rating and set a $50.00 target price (up previously from $37.00) on shares of Amer Sports in a report on Wednesday, May 21st. Finally, Wells Fargo & Company set a $35.00 target price on Amer Sports and gave the stock an "equal weight" rating in a report on Wednesday, May 21st. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $36.67.

Amer Sports Trading Up 3.7%

Amer Sports stock traded up $1.38 during mid-day trading on Tuesday, hitting $38.42. The stock had a trading volume of 1,038,009 shares, compared to its average volume of 3,941,337. The stock has a 50-day simple moving average of $26.78 and a two-hundred day simple moving average of $27.58. The stock has a market capitalization of $21.28 billion, a PE ratio of -274.41, a P/E/G ratio of 0.72 and a beta of 2.76. Amer Sports, Inc. has a 12 month low of $10.11 and a 12 month high of $38.51. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS - Get Free Report) last posted its quarterly 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. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.38 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The firm's quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.08 earnings per share. As a group, sell-side analysts forecast that Amer Sports, Inc. will post 0.46 EPS for the current year.

About Amer Sports

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.