Amer Sports, Inc. $AS is WT Asset Management Ltd’s 8th Largest Position

WT Asset Management Ltd raised its position in shares of Amer Sports, Inc. (NYSE:AS) by 221.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,499,062 shares of the company’s stock after purchasing an additional 2,410,861 shares during the quarter. Amer Sports accounts for approximately 5.6% of WT Asset Management Ltd’s holdings, making the stock its 8th biggest position. WT Asset Management Ltd’s holdings in Amer Sports were worth $121,592,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AS. AQR Capital Management LLC purchased a new stake in Amer Sports during the first quarter valued at approximately $565,000. Goldman Sachs Group Inc. increased its stake in shares of Amer Sports by 44.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,173,674 shares of the company’s stock worth $31,372,000 after purchasing an additional 358,536 shares in the last quarter. GGM Financials LLC bought a new position in Amer Sports in the 2nd quarter worth $14,550,000. Vanguard Personalized Indexing Management LLC purchased a new position in Amer Sports during the second quarter valued at $397,000. Finally, Ethic Inc. bought a new stake in Amer Sports during the second quarter valued at about $269,000. 40.25% of the stock is currently owned by institutional investors.

Amer Sports Price Performance

AS traded up $0.61 during trading hours on Friday, hitting $42.12. The company’s stock had a trading volume of 223,949 shares, compared to its average volume of 3,933,012. The stock has a market cap of $23.33 billion, a price-to-earnings ratio of 76.42, a P/E/G ratio of 0.81 and a beta of 2.86. The business’s 50-day moving average price is $38.05 and its 200-day moving average price is $36.20. The company has a current ratio of 1.51, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24. Amer Sports, Inc. has a 12 month low of $20.21 and a 12 month high of $42.36.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, November 18th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.08. The firm had revenue of $1.76 billion for 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 EPS. Sell-side analysts expect that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AS has been the topic of several recent research reports. Barclays initiated coverage on Amer Sports in a research note on Tuesday, December 9th. They issued an “overweight” rating and a $49.00 price objective on the stock. Evercore restated an “outperform” rating and set a $50.00 target price on shares of Amer Sports in a research note on Thursday. Nomura set a $39.80 price target on shares of Amer Sports and gave the company a “buy” rating in a report on Tuesday, November 18th. Wells Fargo & Company increased their price objective on shares of Amer Sports from $40.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, Truist Financial set a $46.00 target price on shares of Amer Sports in a research note on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Amer Sports currently has a consensus rating of “Buy” and a consensus price target of $46.89.

About Amer Sports

Amer Sports (NYSE:AS) is a Helsinki-based sporting goods group that designs, develops and markets performance-oriented equipment, apparel and footwear across multiple sports. The company focuses on product innovation, brand-driven marketing and global distribution to serve athletes and outdoor enthusiasts, offering goods for activities such as skiing, running, hiking, tennis, golf and diving.

Amer Sports’ portfolio comprises well-known sports and outdoor brands, including Salomon (outdoor footwear and winter sports), Atomic (alpine skis and ski equipment), Arc’teryx (technical outerwear and climbing gear), Wilson (racquet and ball sports equipment) and Suunto (precision instruments and sports watches).