Rhumbline Advisers Takes $1.14 Million Position in Amer Sports, Inc. (NYSE:AS)

Rhumbline Advisers purchased a new stake in shares of Amer Sports, Inc. (NYSE:AS) during the second quarter, Holdings Channel reports. The fund purchased 90,815 shares of the company’s stock, valued at approximately $1,142,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hood River Capital Management LLC bought a new position in Amer Sports in the 1st quarter worth $47,778,000. Capstone Investment Advisors LLC bought a new position in Amer Sports in the 1st quarter worth $7,301,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Amer Sports in the 1st quarter worth $5,705,000. Bank of New York Mellon Corp bought a new position in Amer Sports in the 2nd quarter worth $3,164,000. Finally, Value Star Asset Management Hong Kong Ltd bought a new position in Amer Sports in the 1st quarter worth $2,061,000. Institutional investors own 40.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Evercore ISI reiterated an “outperform” rating and issued a $21.00 target price on shares of Amer Sports in a report on Wednesday, August 21st. UBS Group lifted 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 investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amer Sports currently has a consensus rating of “Moderate Buy” and an average price target of $18.50.

Amer Sports Price Performance

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

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. Amer Sports’s revenue for the quarter was up 16.0% on a year-over-year basis. Equities analysts forecast that Amer Sports, Inc. will post 0.43 EPS for the current fiscal year.

Amer Sports Company 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.