Bank of America Corp DE Has $10.76 Million Stock Holdings in Amer Sports, Inc. (NYSE:AS)

Bank of America Corp DE raised its stake in shares of Amer Sports, Inc. (NYSE:AS) by 957.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 384,705 shares of the company’s stock after purchasing an additional 348,329 shares during the period. Bank of America Corp DE owned 0.07% of Amer Sports worth $10,756,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AS. JPMorgan Chase & Co. acquired a new stake in shares of Amer Sports in the third quarter worth $25,000. Dakota Wealth Management acquired a new stake in shares of Amer Sports in the fourth quarter worth $1,083,000. SG Americas Securities LLC acquired a new stake in shares of Amer Sports in the fourth quarter worth $269,000. Exchange Traded Concepts LLC acquired a new stake in shares of Amer Sports in the fourth quarter worth $2,513,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Amer Sports in the fourth quarter worth $104,000. Institutional investors and hedge funds own 40.25% of the company’s stock.

Amer Sports Stock Down 1.0%

Shares of NYSE:AS opened at $37.12 on Friday. Amer Sports, Inc. has a 52 week low of $10.11 and a 52 week high of $38.42. 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 company’s fifty day moving average is $26.62 and its 200-day moving average is $27.34. The company has a market capitalization of $20.56 billion, a PE ratio of -265.09, a P/E/G ratio of 0.72 and a beta of 2.76.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. Equities research analysts predict that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AS shares. Citigroup restated a “buy” rating and issued a $42.00 price objective (up previously from $30.00) on shares of Amer Sports in a research note on Wednesday. Wells Fargo & Company set a $35.00 price target on shares of Amer Sports and gave the stock an “equal weight” rating in a research note on Wednesday. TD Securities lifted their price target on shares of Amer Sports from $30.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group reiterated a “buy” rating and set a $50.00 price target (up previously from $37.00) on shares of Amer Sports in a research note on Wednesday. Finally, Morgan Stanley lifted their price target on shares of Amer Sports from $28.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.