Bank of New York Mellon Corp Has $6.08 Million Stock Position in Amer Sports, Inc. (NYSE:AS)

Bank of New York Mellon Corp lifted its position in Amer Sports, Inc. (NYSE:AS) by 46.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 227,375 shares of the company’s stock after buying an additional 72,012 shares during the quarter. Bank of New York Mellon Corp’s holdings in Amer Sports were worth $6,078,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AS. Charles Schwab Investment Management Inc. acquired a new position in shares of Amer Sports in the 4th quarter valued at $283,000. Quantbot Technologies LP acquired a new position in shares of Amer Sports in the 4th quarter valued at $328,000. Sei Investments Co. acquired a new position in shares of Amer Sports in the 4th quarter valued at $1,269,000. Brilliance Asset Management Ltd. raised its stake in shares of Amer Sports by 5.1% in the 4th 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Amer Sports by 33,494.4% in the 4th quarter. JPMorgan Chase & Co. now owns 524,072 shares of the company’s stock valued at $14,653,000 after buying an additional 522,512 shares in the last quarter. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on AS. Wall Street Zen upgraded shares of Amer Sports from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. KGI Securities set a $44.30 price objective on shares of Amer Sports and gave the company an “outperform” rating in a research report on Wednesday, June 25th. Morgan Stanley raised their price objective on shares of Amer Sports from $28.00 to $33.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 21st. TD Securities raised their price objective on shares of Amer Sports from $30.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, May 21st. Finally, The Goldman Sachs Group raised their price objective on shares of Amer Sports from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Amer Sports has an average rating of “Moderate Buy” and an average price target of $37.88.

Amer Sports Stock Performance

AS stock opened at $37.70 on Thursday. Amer Sports, Inc. has a one year low of $10.11 and a one year high of $40.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.80 and a current ratio of 1.66. The firm has a market cap of $20.88 billion, a price-to-earnings ratio of 101.90, a PEG ratio of 1.53 and a beta of 3.36. The firm has a 50-day simple moving average of $37.30 and a two-hundred day simple moving average of $31.08.

Amer Sports (NYSE:AS) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Amer Sports had a net margin of 3.70% and a return on equity of 7.21%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the company earned $0.08 EPS. The business’s revenue was up 24.5% on a year-over-year basis. On average, equities analysts forecast that Amer Sports, Inc. will post 0.46 EPS for the current fiscal 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.