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

Bank of New York Mellon Corp purchased a new position in shares of Amer Sports, Inc. (NYSE:AS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 251,711 shares of the company’s stock, valued at approximately $3,164,000.

Several other hedge funds have also recently added to or reduced their stakes in AS. Hood River Capital Management LLC bought a new stake in shares of Amer Sports in the 1st quarter valued at $47,778,000. Capstone Investment Advisors LLC bought a new stake in shares of Amer Sports in the 1st quarter valued at $7,301,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Amer Sports in the 1st quarter valued at $5,705,000. Value Star Asset Management Hong Kong Ltd bought a new stake in shares of Amer Sports in the 1st quarter valued at $2,061,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Amer Sports in the 1st quarter valued at $1,521,000. Institutional investors own 40.25% of the company’s stock.

Amer Sports Price Performance

AS opened at $14.51 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58. The firm’s fifty day moving average price is $12.30 and its two-hundred day moving average price is $13.96. Amer Sports, Inc. has a 1 year low of $10.11 and a 1 year high of $18.23.

Amer Sports (NYSE:AS) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The company had revenue of $993.80 million for the quarter, compared to the consensus estimate of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts anticipate that Amer Sports, Inc. will post 0.43 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on AS shares. Morgan Stanley lowered their price objective on shares of Amer Sports from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. UBS Group lifted their price target on shares of Amer Sports from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Evercore ISI reissued an “outperform” rating and issued a $21.00 price target on shares of Amer Sports in a research report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

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.