Annex Advisory Services LLC Buys New Holdings in Amer Sports, Inc. (NYSE:AS)

Annex Advisory Services LLC bought a new stake in shares of Amer Sports, Inc. (NYSE:AS) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 317,654 shares of the company’s stock, valued at approximately $8,491,000.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. purchased a new stake in Amer Sports in the 3rd quarter worth approximately $25,000. Sterling Capital Management LLC lifted its holdings in Amer Sports by 55.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,487 shares of the company’s stock worth $97,000 after buying an additional 1,250 shares during the period. Signaturefd LLC lifted its stake in shares of Amer Sports by 35.0% in the 4th quarter. Signaturefd LLC now owns 4,136 shares of the company’s stock valued at $116,000 after purchasing an additional 1,073 shares during the period. Mainstream Capital Management LLC purchased a new position in shares of Amer Sports in the 4th quarter valued at approximately $190,000. Finally, Keel Point LLC purchased a new position in shares of Amer Sports in the 4th quarter valued at approximately $234,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Amer Sports Stock Down 0.7%

Shares of NYSE AS opened at $37.20 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of -265.70, a PEG ratio of 0.72 and a beta of 2.76. The stock has a 50 day moving average price of $28.03 and a 200 day moving average price of $28.31. Amer Sports, Inc. has a 52-week low of $10.11 and a 52-week high of $38.51.

Amer Sports (NYSE:AS) last announced 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. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.38 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. Amer Sports’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 earnings per share. Sell-side analysts expect that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

AS has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their target price on Amer Sports from $28.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, May 21st. Citigroup reaffirmed a “buy” rating and set a $42.00 price objective (up previously from $30.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Sanford C. Bernstein began coverage on Amer Sports in a research report on Thursday, February 13th. They set an “outperform” rating and a $38.00 price objective for the company. Wells Fargo & Company set a $35.00 price objective on Amer Sports and gave the company an “equal weight” rating in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. raised their price objective on Amer Sports from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.67.

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.