Amer Sports, Inc. $AS Stock: Vontobel Holding Ltd. Grows Holdings

Vontobel Holding Ltd. grew its stake in Amer Sports, Inc. (NYSE:AS) by 346.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 48,958 shares of the company’s stock after acquiring an additional 38,004 shares during the period. Vontobel Holding Ltd.’s holdings in Amer Sports were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Amer Sports by 84.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 761 shares of the company’s stock worth $25,000 after buying an additional 348 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Amer Sports by 1,030.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 814 shares of the company’s stock worth $30,000 after buying an additional 742 shares during the period. Farther Finance Advisors LLC grew its stake in Amer Sports by 45.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,718 shares of the company’s stock valued at $47,000 after buying an additional 534 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Amer Sports in the 2nd quarter valued at about $99,000. Finally, PNC Financial Services Group Inc. raised its holdings in Amer Sports by 135.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,090 shares of the company’s stock valued at $102,000 after acquiring an additional 1,777 shares during the period. 40.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Amer Sports in a research report on Tuesday, October 13th. They set a “buy” rating and a $42.00 price objective for the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Amer Sports in a report on Wednesday, August 19th. Wells Fargo & Company decreased their target price on Amer Sports from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, September 18th. Citigroup reiterated a “buy” rating on shares of Amer Sports in a research note on Monday, September 21st. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Amer Sports in a report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Amer Sports has a consensus rating of “Moderate Buy” and a consensus target price of $44.59.

Amer Sports Stock Performance

AS opened at $30.28 on Tuesday. The firm has a market cap of $16.77 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 0.95 and a beta of 2.04. Amer Sports, Inc. has a 52-week low of $26.10 and a 52-week high of $42.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.80 and a current ratio of 1.76. The business’s fifty day moving average is $29.26 and its 200-day moving average is $33.06.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Monday, August 17th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. Amer Sports had a return on equity of 11.18% and a net margin of 7.35%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the firm earned $0.03 earnings per share. Amer Sports’s revenue for the quarter was up 32.1% compared to the same quarter last year. Sell-side analysts expect that Amer Sports, Inc. will post 1.30 EPS for the current fiscal year.

Insider Activity

In other news, insider Wen-Chang Chen sold 117,461 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $26.60, for a total value of $3,124,462.60. Following the completion of the transaction, the insider directly owned 434,855 shares in the company, valued at approximately $11,567,143. The trade was a 21.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew E. Page sold 2,022 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $28.63, for a total transaction of $57,889.86. Following the sale, the chief financial officer directly owned 6,575 shares of the company’s stock, valued at approximately $188,242.25. This trade represents a 23.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Amer Sports Company Profile

Amer Sports, Inc is a global sporting and outdoor equipment company that develops, manufactures and markets apparel, footwear, equipment and accessories. Its portfolio includes internationally recognized brands such as Arc’teryx, Salomon, Wilson, Peak Performance, Atomic and ENVE.

The company organizes its business around outdoor and performance sports, including mountain sports, winter sports, trail running, hiking and other outdoor activities, as well as ball and racquet sports. Its products range from technical apparel and footwear to skis, snowboarding equipment, bicycles, tennis and padel racquets, team-sport equipment and related accessories.

Amer Sports traces its origins to Finland, where it was established in 1950, and serves consumers through wholesale and direct-to-consumer channels across North America, Europe, Asia and other international markets.