Lazard Asset Management LLC Buys New Shares in Amer Sports, Inc. (NYSE:AS)

Lazard Asset Management LLC bought a new stake in shares of Amer Sports, Inc. (NYSE:AS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 165,486 shares of the company's stock, valued at approximately $4,626,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AS. JPMorgan Chase & Co. acquired a new stake in Amer Sports in the third quarter worth approximately $25,000. Artemis Investment Management LLP lifted its position in shares of Amer Sports by 35.1% during the 4th quarter. Artemis Investment Management LLP now owns 24,817 shares of the company's stock valued at $694,000 after acquiring an additional 6,444 shares during the last quarter. Capricorn Fund Managers Ltd acquired a new stake in shares of Amer Sports during the 4th quarter valued at $3,834,000. Dakota Wealth Management acquired a new stake in shares of Amer Sports during the 4th quarter valued at $1,083,000. Finally, West Branch Capital LLC raised its stake in Amer Sports by 14,285.7% during the 4th quarter. West Branch Capital LLC now owns 1,007 shares of the company's stock valued at $28,000 after purchasing an additional 1,000 shares during the period. 40.25% of the stock is owned by institutional investors.

Amer Sports Stock Performance

AS stock traded up $0.72 during mid-day trading on Wednesday, reaching $38.09. 2,796,023 shares of the stock traded hands, compared to its average volume of 2,739,787. 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, Inc. has a 52 week low of $10.11 and a 52 week high of $38.59. The business has a 50-day moving average of $26.08 and a two-hundred day moving average of $27.01. The firm has a market capitalization of $21.10 billion, a PE ratio of -271.64, a P/E/G ratio of 0.72 and a beta of 2.76.

Amer Sports (NYSE:AS - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.12. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the prior year, the company earned $0.08 earnings per share. The business's quarterly revenue was up 24.5% compared to the same quarter last year. As a group, equities analysts predict that Amer Sports, Inc. will post 0.46 EPS for the current fiscal year.

Analysts Set New Price Targets

AS has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price 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 lowered their target price on shares of Amer Sports from $33.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Sanford C. Bernstein initiated coverage on shares of Amer Sports in a research report on Thursday, February 13th. They set an "outperform" rating and a $38.00 target price on the stock. Citigroup lowered their target price 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 increased their target price on shares of Amer Sports from $28.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.33.

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.