New York State Common Retirement Fund Grows Holdings in Amer Sports, Inc. (NYSE:AS)

New York State Common Retirement Fund grew its holdings in Amer Sports, Inc. (NYSE:AS) by 16.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,400 shares of the company’s stock after purchasing an additional 4,000 shares during the period. New York State Common Retirement Fund’s holdings in Amer Sports were worth $759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AS. Charles Schwab Investment Management Inc. purchased a new position in shares of Amer Sports during the fourth quarter valued at $283,000. Quantbot Technologies LP purchased a new position in shares of Amer Sports during the fourth quarter valued at $328,000. Sei Investments Co. purchased a new position in shares of Amer Sports during the fourth quarter valued at $1,269,000. JPMorgan Chase & Co. increased its stake in shares of Amer Sports by 33,494.4% during the fourth 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 during the period. Finally, Norges Bank purchased a new position in shares of Amer Sports during the fourth quarter valued at $12,424,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Wall Street Analysts Forecast Growth

AS has been the topic of a number of recent research reports. TD Securities raised their price objective on Amer Sports from $30.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, May 21st. 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. Piper Sandler initiated coverage on Amer Sports in a research report on Thursday, June 26th. They set an “overweight” rating and a $45.00 price objective on the stock. 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. Finally, Wall Street Zen raised Amer Sports from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.88.

Amer Sports Price Performance

Shares of NYSE AS opened at $37.67 on Friday. Amer Sports, Inc. has a fifty-two week low of $10.11 and a fifty-two week high of $40.21. The company has a market cap of $20.86 billion, a PE ratio of 101.81, a P/E/G ratio of 1.51 and a beta of 3.36. 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 business has a 50-day simple moving average of $37.55 and a two-hundred day simple moving average of $31.19.

Amer Sports (NYSE:AS) last announced its quarterly earnings data on Tuesday, May 20th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. Amer Sports had a return on equity of 7.21% and a net margin of 3.70%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the business posted $0.08 earnings per share. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, equities analysts expect that Amer Sports, Inc. will post 0.46 EPS for the current fiscal 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.