Arrowstreet Capital Limited Partnership Invests $37.52 Million in Amer Sports, Inc. (NYSE:AS)

Arrowstreet Capital Limited Partnership bought a new stake in Amer Sports, Inc. (NYSE:AS) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,341,843 shares of the company’s stock, valued at approximately $37,518,000.

A number of other hedge funds have also bought and sold shares of AS. FMR LLC increased its stake in shares of Amer Sports by 71.2% during the 3rd quarter. FMR LLC now owns 7,533,007 shares of the company’s stock worth $120,151,000 after purchasing an additional 3,133,312 shares during the last quarter. Brilliance Asset Management Ltd. raised its stake in shares of Amer Sports by 5.1% in the fourth quarter. Brilliance Asset Management Ltd. now owns 4,073,061 shares of the company’s stock valued at $113,883,000 after buying an additional 196,380 shares during the period. WT Asset Management Ltd increased its holdings in Amer Sports by 188.2% in the 4th quarter. WT Asset Management Ltd now owns 3,606,363 shares of the company’s stock worth $100,834,000 after acquiring an additional 2,355,182 shares during the last quarter. Trivest Advisors Ltd bought a new position in Amer Sports during the fourth quarter worth about $39,913,000. Finally, State Street Corp grew its stake in Amer Sports by 65.1% in the 3rd quarter. State Street Corp now owns 884,526 shares of the company’s stock valued at $14,108,000 after buying an additional 348,877 shares in the last quarter. 40.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AS has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price target on Amer Sports from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Sanford C. Bernstein assumed coverage on shares of Amer Sports in a report on Thursday, February 13th. They issued an “outperform” rating and a $38.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Amer Sports from $25.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Citigroup lifted their price objective on Amer Sports from $24.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Evercore ISI upped their target price on Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Four equities research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.64.

Amer Sports Trading Up 5.8 %

NYSE:AS opened at $28.37 on Thursday. The company has a 50-day moving average price of $29.45 and a 200-day moving average price of $25.05. The stock has a market cap of $15.71 billion and a price-to-earnings ratio of -202.63. 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, Inc. has a 12 month low of $10.11 and a 12 month high of $34.00.

Amer Sports (NYSE:AS) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.60 billion. Amer Sports’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities analysts predict that Amer Sports, Inc. will post 0.46 EPS for the current year.

Amer Sports Company 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.