Hsbc Holdings PLC Invests $693,000 in Amer Sports, Inc. (NYSE:AS)

Hsbc Holdings PLC bought a new position in shares of Amer Sports, Inc. (NYSE:AS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 24,461 shares of the company's stock, valued at approximately $693,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Element Capital Management LLC acquired a new position in shares of Amer Sports during the fourth quarter valued at approximately $357,000. GAM Holding AG acquired a new stake in Amer Sports during the 4th quarter worth $13,460,000. Renaissance Capital LLC grew its holdings in shares of Amer Sports by 116.2% during the fourth quarter. Renaissance Capital LLC now owns 135,697 shares of the company's stock worth $3,794,000 after buying an additional 72,936 shares in the last quarter. Pamalican Asset Management Ltd acquired a new stake in shares of Amer Sports in the fourth quarter valued at about $20,970,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Amer Sports in the fourth quarter worth about $283,000. Hedge funds and other institutional investors own 40.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of Amer Sports from $28.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Sanford C. Bernstein started coverage on Amer Sports in a report on Thursday, February 13th. They issued an "outperform" rating and a $38.00 target price for the company. UBS Group lifted their price target on Amer Sports from $37.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Morgan Stanley lifted their target price on shares of Amer Sports from $19.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 21st. Finally, Citigroup decreased their target price on shares of Amer Sports from $36.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.45.

Amer Sports Trading Down 1.5 %

NYSE AS traded down $0.41 during trading on Friday, hitting $26.99. The stock had a trading volume of 2,069,044 shares, compared to its average volume of 2,570,459. Amer Sports, Inc. has a twelve month low of $10.11 and a twelve month high of $34.00. The firm has a 50 day moving average price of $25.47 and a 200 day moving average price of $26.22. The company has a market capitalization of $14.95 billion, a PE ratio of -192.77, a PEG ratio of 0.72 and a beta of 2.76. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, hitting analysts' consensus estimates of $0.17. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.60 billion. The business's quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts forecast that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

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.