Geode Capital Management LLC Raises Stake in Amer Sports, Inc. $AS

Geode Capital Management LLC grew its holdings in Amer Sports, Inc. (NYSE:AS) by 136.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 747,218 shares of the company’s stock after buying an additional 430,702 shares during the period. Geode Capital Management LLC owned 0.13% of Amer Sports worth $28,962,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. grew its position in Amer Sports by 146.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 897 shares of the company’s stock valued at $35,000 after buying an additional 533 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Amer Sports during the 2nd quarter worth approximately $1,832,000. AGF Management Ltd. lifted its holdings in shares of Amer Sports by 141.2% in the 2nd quarter. AGF Management Ltd. now owns 176,030 shares of the company’s stock valued at $6,823,000 after buying an additional 103,063 shares during the period. Fox Run Management L.L.C. boosted its position in shares of Amer Sports by 299.5% during the 2nd quarter. Fox Run Management L.L.C. now owns 41,842 shares of the company’s stock worth $1,622,000 after purchasing an additional 31,369 shares in the last quarter. Finally, Tabor Asset Management LP lifted its stake in shares of Amer Sports by 21.3% in the second quarter. Tabor Asset Management LP now owns 132,365 shares of the company’s stock valued at $5,130,000 after purchasing an additional 23,213 shares during the period. 40.25% of the stock is owned by institutional investors and hedge funds.

Amer Sports Trading Up 1.3%

AS opened at $37.13 on Friday. The firm’s 50 day moving average is $32.81 and its 200-day moving average is $35.86. Amer Sports, Inc. has a 52-week low of $20.21 and a 52-week high of $42.36. The company has a quick ratio of 0.70, a current ratio of 1.51 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $20.56 billion, a P/E ratio of 67.51, a P/E/G ratio of 1.02 and a beta of 2.97.

Amer Sports (NYSE:AS) last announced its earnings results on Tuesday, November 18th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.08. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.73 billion. Amer Sports had a net margin of 5.10% and a return on equity of 8.51%. The business’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 earnings per share. Amer Sports has set its FY 2025 guidance at 0.880-0.920 EPS. Analysts expect that Amer Sports, Inc. will post 0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. UBS Group upped their price target on Amer Sports from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. JPMorgan Chase & Co. lowered their price target on shares of Amer Sports from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Zacks Research lowered Amer Sports from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Morgan Stanley set a $41.00 price objective on Amer Sports and gave the stock a “positive” rating in a research report on Monday, September 22nd. Finally, Evercore ISI lifted their price target on shares of Amer Sports from $43.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.06.

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.