Bank of New York Mellon Corp Acquires New Position in Amer Sports, Inc. (NYSE:AS)

Bank of New York Mellon Corp acquired a new stake in Amer Sports, Inc. (NYSE:AS) during the second quarter, Holdings Channel reports. The firm acquired 251,711 shares of the company’s stock, valued at approximately $3,164,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AS. SYSTM Wealth Solutions LLC bought a new stake in Amer Sports in the 1st quarter valued at about $319,000. China Universal Asset Management Co. Ltd. bought a new stake in Amer Sports in the 1st quarter valued at about $1,521,000. Capstone Investment Advisors LLC bought a new stake in shares of Amer Sports during the first quarter valued at about $7,301,000. Sei Investments Co. bought a new stake in shares of Amer Sports during the first quarter valued at about $968,000. Finally, Value Star Asset Management Hong Kong Ltd bought a new stake in shares of Amer Sports during the first quarter valued at about $2,061,000. 40.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AS. Evercore ISI reiterated an “outperform” rating and set a $21.00 price target on shares of Amer Sports in a research report on Wednesday, August 21st. Morgan Stanley decreased their price target on Amer Sports from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 23rd. Finally, UBS Group upped their price target on Amer Sports from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Amer Sports has an average rating of “Moderate Buy” and an average price target of $18.50.

Amer Sports Stock Performance

Shares of NYSE AS opened at $14.51 on Monday. Amer Sports, Inc. has a 12 month low of $10.11 and a 12 month high of $18.23. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81. The business has a 50-day moving average of $12.30 and a 200-day moving average of $13.96.

Amer Sports (NYSE:AS) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.11. The company had revenue of $993.80 million during the quarter, compared to analyst estimates of $947.59 million. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The business’s revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts expect that Amer Sports, Inc. will post 0.43 EPS for the current fiscal year.

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.