Envestnet Asset Management Inc. Has $1.01 Million Position in Amer Sports, Inc. (NYSE:AS)

Envestnet Asset Management Inc. lifted its holdings in shares of Amer Sports, Inc. (NYSE:AS) by 16.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,018 shares of the company’s stock after purchasing an additional 5,157 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Amer Sports were worth $1,007,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AS. JPMorgan Chase & Co. bought a new position in shares of Amer Sports during the 3rd quarter worth about $25,000. West Branch Capital LLC grew its position in Amer Sports by 14,285.7% in the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock valued at $28,000 after acquiring an additional 1,000 shares during the period. Kieckhefer Group LLC acquired a new position in Amer Sports during the fourth quarter worth $42,000. GAMMA Investing LLC lifted its holdings in shares of Amer Sports by 61.8% during the fourth quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock valued at $54,000 after acquiring an additional 742 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in Amer Sports during the fourth quarter worth about $104,000. 40.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AS. Morgan Stanley upped 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 report on Tuesday, January 21st. Sanford C. Bernstein initiated coverage on Amer Sports in a research note on Thursday, February 13th. They set an “outperform” rating and a $38.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Amer Sports from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Citigroup decreased their price objective on Amer Sports from $36.00 to $30.00 and set a “buy” rating for the company in a report on Monday. Finally, TD Cowen upped their price target on Amer Sports from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.45.

Amer Sports Stock Performance

AS opened at $24.24 on Friday. The stock has a market cap of $13.43 billion, a price-to-earnings ratio of -173.14, a PEG ratio of 0.72 and a beta of 2.66. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average of $25.80 and a 200-day moving average of $25.95. Amer Sports, Inc. has a 12-month low of $10.11 and a 12-month high of $34.00.

Amer Sports (NYSE:AS) last posted its earnings results 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 company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.60 billion. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts expect that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

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.