Lazard Asset Management LLC Takes $4.63 Million Position in Amer Sports, Inc. (NYSE:AS)

Lazard Asset Management LLC purchased a new stake in Amer Sports, Inc. (NYSE:AS) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 165,486 shares of the company’s stock, valued at approximately $4,626,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Element Capital Management LLC acquired a new stake in shares of Amer Sports in the 4th quarter worth $357,000. GAM Holding AG acquired a new stake in shares of Amer Sports in the 4th quarter worth $13,460,000. Renaissance Capital LLC boosted its position in shares of Amer Sports by 116.2% in the 4th quarter. Renaissance Capital LLC now owns 135,697 shares of the company’s stock worth $3,794,000 after purchasing an additional 72,936 shares in the last quarter. Pamalican Asset Management Ltd acquired a new stake in shares of Amer Sports in the 4th quarter worth $20,970,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Amer Sports in the 4th quarter worth $283,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Morgan Stanley raised their price objective on Amer Sports from $19.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on Amer Sports from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Citigroup lowered their price objective on Amer Sports from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, April 28th. UBS Group lifted their price target on Amer Sports from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, Sanford C. Bernstein initiated coverage on Amer Sports in a research report on Thursday, February 13th. They set an “outperform” rating and a $38.00 price target for the company. Four equities research 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.com, Amer Sports has an average rating of “Moderate Buy” and an average price target of $31.55.

Amer Sports Stock Performance

Shares of AS stock opened at $30.83 on Friday. The stock has a market cap of $17.08 billion, a PE ratio of -220.20, a price-to-earnings-growth ratio of 0.72 and a beta of 2.76. The business has a 50-day simple moving average of $25.69 and a 200-day simple moving average of $26.63. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. Amer Sports, Inc. has a 52-week low of $10.11 and a 52-week high of $34.00.

Amer Sports (NYSE:AS) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities analysts expect that Amer Sports, Inc. will post 0.46 EPS for the current year.

Amer Sports 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.