Amer Sports, Inc. (NYSE:AS) Position Trimmed by Invesco Ltd.

Invesco Ltd. cut its stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) by 43.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,196 shares of the company's stock after selling 32,834 shares during the quarter. Invesco Ltd.'s holdings in Amer Sports were worth $1,208,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Amer Sports by 250.7% during the fourth quarter. FMR LLC now owns 26,414,511 shares of the company's stock worth $738,550,000 after buying an additional 18,881,504 shares during the last quarter. Russell Investments Group Ltd. grew its position in Amer Sports by 341.3% during the fourth quarter. Russell Investments Group Ltd. now owns 246,901 shares of the company's stock worth $6,903,000 after buying an additional 190,951 shares during the period. Envestnet Asset Management Inc. boosted its position in Amer Sports by 16.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 36,018 shares of the company's stock worth $1,007,000 after purchasing an additional 5,157 shares in the last quarter. Pamalican Asset Management Ltd purchased a new position in shares of Amer Sports in the fourth quarter valued at $20,970,000. Finally, Pinpoint Asset Management Ltd increased its position in shares of Amer Sports by 499.5% in the fourth quarter. Pinpoint Asset Management Ltd now owns 456,830 shares of the company's stock valued at $12,773,000 after buying an additional 380,633 shares in the last quarter. Institutional investors and hedge funds own 40.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AS. UBS Group upped their target price on Amer Sports from $37.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on shares of Amer Sports from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group reduced their price target on Amer Sports from $33.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Citigroup reduced their price target on shares of Amer Sports from $36.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Morgan Stanley boosted their target price on shares of Amer Sports from $19.00 to $27.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.45.

Amer Sports Price Performance

Shares of Amer Sports stock traded up $1.45 on Friday, hitting $25.70. The company had a trading volume of 3,489,372 shares, compared to its average volume of 2,534,530. Amer Sports, Inc. has a 52 week low of $10.11 and a 52 week high of $34.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The business has a 50-day simple moving average of $25.73 and a 200-day simple moving average of $26.06. The company has a market cap of $14.23 billion, a PE ratio of -183.56, a PEG ratio of 0.72 and a beta of 2.76.

Amer Sports (NYSE:AS - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The firm's quarterly revenue was up 23.2% on a year-over-year basis. Research analysts expect that Amer Sports, Inc. will post 0.46 EPS for the current fiscal 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.