Bank of New York Mellon Corp Raises Stock Holdings in Amer Sports, Inc. $AS

Bank of New York Mellon Corp grew its holdings in Amer Sports, Inc. (NYSE:AS) by 60.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 364,156 shares of the company’s stock after buying an additional 136,781 shares during the quarter. Bank of New York Mellon Corp owned 0.07% of Amer Sports worth $14,115,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AS. GAMMA Investing LLC grew its stake in Amer Sports by 17.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,614 shares of the company’s stock valued at $101,000 after acquiring an additional 387 shares during the period. Scotia Capital Inc. lifted its holdings in Amer Sports by 1.0% during the first quarter. Scotia Capital Inc. now owns 50,841 shares of the company’s stock valued at $1,359,000 after purchasing an additional 488 shares in the last quarter. Signaturefd LLC grew its position in shares of Amer Sports by 19.1% in the first quarter. Signaturefd LLC now owns 4,925 shares of the company’s stock valued at $132,000 after purchasing an additional 789 shares during the period. Quarry LP acquired a new stake in shares of Amer Sports in the first quarter valued at about $34,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Amer Sports by 22.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,386 shares of the company’s stock worth $331,000 after purchasing an additional 2,275 shares in the last quarter. 40.25% of the stock is owned by institutional investors and hedge funds.

Amer Sports Trading Up 2.0%

AS opened at $30.96 on Tuesday. The stock has a market capitalization of $17.15 billion, a PE ratio of 75.52, a P/E/G ratio of 0.97 and a beta of 2.98. Amer Sports, Inc. has a one year low of $18.56 and a one year high of $42.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 1.60. The business’s 50 day moving average price is $33.10 and its 200 day moving average price is $35.45.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, August 19th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. Amer Sports had a return on equity of 6.87% and a net margin of 3.93%.The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the firm earned $0.05 earnings per share. The firm’s quarterly revenue was up 23.4% compared to the same quarter last year. As a group, equities research analysts expect that Amer Sports, Inc. will post 0.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Nomura Securities lowered shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Truist Financial assumed coverage on Amer Sports in a research report on Monday, October 27th. They issued a “buy” rating and a $42.00 target price on the stock. Robert W. Baird lifted their price target on Amer Sports from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. HSBC set a $50.00 price target on Amer Sports and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Finally, Bank of America raised their price objective on Amer Sports from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.21.

Amer Sports 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.