Rhumbline Advisers Makes New $1.14 Million Investment in Amer Sports, Inc. (NYSE:AS)

Rhumbline Advisers bought a new position in Amer Sports, Inc. (NYSE:AS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 90,815 shares of the company’s stock, valued at approximately $1,142,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AS. Dnca Finance acquired a new stake in shares of Amer Sports in the 2nd quarter worth approximately $81,000. Summit Securities Group LLC acquired a new stake in shares of Amer Sports in the 2nd quarter worth approximately $297,000. SYSTM Wealth Solutions LLC acquired a new stake in shares of Amer Sports in the 1st quarter worth approximately $319,000. Quadrature Capital Ltd acquired a new stake in shares of Amer Sports in the 1st quarter worth approximately $390,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Amer Sports in the 1st quarter worth approximately $425,000. Institutional investors own 40.25% of the company’s stock.

Amer Sports Stock Performance

Amer Sports stock opened at $15.14 on Monday. Amer Sports, Inc. has a 52 week low of $10.11 and a 52 week high of $18.23. 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 company has a 50 day moving average price of $12.63 and a 200 day moving average price of $13.90.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on AS. Evercore ISI restated an “outperform” rating and set a $21.00 target price on shares of Amer Sports in a report on Wednesday, August 21st. UBS Group raised their target price on shares of Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.