Hood River Capital Management LLC Raises Stock Position in Amer Sports, Inc. (NYSE:AS)

Hood River Capital Management LLC grew its holdings in shares of Amer Sports, Inc. (NYSE:AS) by 32.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,896,784 shares of the company’s stock after buying an additional 965,625 shares during the quarter. Hood River Capital Management LLC owned 0.77% of Amer Sports worth $48,983,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Tocqueville Asset Management L.P. bought a new position in Amer Sports during the first quarter valued at $813,000. Sei Investments Co. bought a new position in Amer Sports during the 1st quarter valued at about $968,000. Capstone Investment Advisors LLC purchased a new stake in Amer Sports in the 1st quarter worth about $7,301,000. Quadrature Capital Ltd bought a new stake in Amer Sports in the first quarter worth about $390,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Amer Sports during the second quarter valued at approximately $3,164,000. Institutional investors own 40.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AS shares. Evercore ISI reiterated an “outperform” rating and issued a $21.00 price target on shares of Amer Sports in a report on Wednesday, August 21st. UBS Group increased their target price on Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amer Sports has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Amer Sports Stock Up 0.7 %

Shares of AS stock opened at $15.14 on Monday. The company’s 50 day moving average is $12.63 and its 200 day moving average is $13.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81. Amer Sports, Inc. has a 52-week low of $10.11 and a 52-week high of $18.23.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.11. The company had revenue of $993.80 million for 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 company’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, analysts predict that Amer Sports, Inc. will post 0.43 earnings per share for the current fiscal year.

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.