Norges Bank Invests $12.42 Million in Amer Sports, Inc. (NYSE:AS)

Norges Bank bought a new stake in Amer Sports, Inc. (NYSE:AS) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 444,365 shares of the company’s stock, valued at approximately $12,424,000.

Several other institutional investors have also recently bought and sold shares of AS. BNP Paribas Financial Markets boosted its holdings in Amer Sports by 734.8% during the third quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock valued at $1,288,000 after acquiring an additional 71,086 shares during the period. XTX Topco Ltd bought a new stake in Amer Sports during the 3rd quarter valued at approximately $609,000. Public Employees Retirement System of Ohio bought a new stake in Amer Sports during the 3rd quarter valued at approximately $337,000. Element Capital Management LLC acquired a new stake in Amer Sports in the 4th quarter valued at approximately $357,000. Finally, State Street Corp increased its position in Amer Sports by 65.1% in the 3rd quarter. State Street Corp now owns 884,526 shares of the company’s stock worth $14,108,000 after buying an additional 348,877 shares during the period. Institutional investors own 40.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on Amer Sports in a research report on Thursday, February 13th. They issued an “outperform” rating and a $38.00 price objective for the company. TD Cowen raised their price target on shares of Amer Sports from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. HSBC lowered shares of Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Monday, December 16th. Wells Fargo & Company lifted their target price on Amer Sports from $25.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Evercore ISI upped their price target on Amer Sports from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.64.

Amer Sports Stock Performance

Amer Sports stock opened at $22.53 on Tuesday. Amer Sports, Inc. has a 52-week low of $10.11 and a 52-week high of $34.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The stock has a fifty day moving average price of $29.03 and a two-hundred day moving average price of $25.31. The firm has a market capitalization of $12.48 billion, a P/E ratio of -160.88, a P/E/G ratio of 0.72 and a beta of 2.66.

Amer Sports (NYSE:AS) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.60 billion. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.15%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, analysts anticipate that Amer Sports, Inc. will post 0.46 EPS 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.