Hsbc Holdings PLC Takes $693,000 Position in Amer Sports, Inc. (NYSE:AS)

Hsbc Holdings PLC bought a new position in shares of Amer Sports, Inc. (NYSE:AS) during the fourth quarter, HoldingsChannel reports. The fund bought 24,461 shares of the company’s stock, valued at approximately $693,000.

A number of other institutional investors have also modified their holdings of AS. Oxbow Capital Management HK Ltd purchased a new position in Amer Sports during the fourth quarter worth about $41,940,000. First Trust Advisors LP raised its stake in shares of Amer Sports by 27.5% during the 4th quarter. First Trust Advisors LP now owns 61,681 shares of the company’s stock worth $1,725,000 after buying an additional 13,294 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Amer Sports by 262.5% in the 4th quarter. Marshall Wace LLP now owns 3,316,167 shares of the company’s stock valued at $92,720,000 after buying an additional 2,401,302 shares during the period. EAM Global Investors LLC purchased a new stake in shares of Amer Sports in the fourth quarter valued at approximately $5,845,000. Finally, EAM Investors LLC acquired a new position in Amer Sports during the fourth quarter worth $5,967,000. 40.25% of the stock is owned by institutional investors and hedge funds.

Amer Sports Stock Performance

NYSE AS opened at $25.82 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The stock has a market cap of $14.30 billion, a price-to-earnings ratio of -184.39, a price-to-earnings-growth ratio of 0.72 and a beta of 2.76. Amer Sports, Inc. has a fifty-two week low of $10.11 and a fifty-two week high of $34.00. The business has a fifty day moving average of $25.64 and a 200-day moving average of $26.16.

Amer Sports (NYSE:AS) last released its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 23.2% on a year-over-year basis. As a group, analysts predict that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Sanford C. Bernstein started coverage on shares of Amer Sports in a research report on Thursday, February 13th. They set an “outperform” rating and a $38.00 target price on the stock. Citigroup lowered their target price on shares of Amer Sports from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company dropped their target price on shares of Amer Sports from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. UBS Group upped their price target on Amer Sports from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group reduced their price objective on Amer Sports from $33.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.45.

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.