Amer Sports, Inc. (NYSE:AS) Shares Bought by Citigroup Inc.

Citigroup Inc. lifted its holdings in Amer Sports, Inc. (NYSE:AS) by 1,402.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 441,628 shares of the company’s stock after buying an additional 412,229 shares during the quarter. Citigroup Inc. owned approximately 0.08% of Amer Sports worth $11,805,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Deutsche Bank AG raised its stake in Amer Sports by 25.9% during the first quarter. Deutsche Bank AG now owns 1,160,491 shares of the company’s stock worth $31,020,000 after acquiring an additional 238,937 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Amer Sports by 22.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,386 shares of the company’s stock worth $331,000 after purchasing an additional 2,275 shares during the period. West Michigan Advisors LLC acquired a new stake in shares of Amer Sports during the 1st quarter worth approximately $451,000. ING Groep NV bought a new stake in shares of Amer Sports in the 1st quarter worth approximately $2,053,000. Finally, Scotia Capital Inc. boosted its position in Amer Sports by 1.0% during the 1st quarter. Scotia Capital Inc. now owns 50,841 shares of the company’s stock valued at $1,359,000 after purchasing an additional 488 shares during the period. 40.25% of the stock is owned by institutional investors and hedge funds.

Amer Sports Trading Down 2.9%

Shares of AS stock opened at $37.94 on Friday. The stock has a 50-day simple moving average of $37.88 and a 200 day simple moving average of $31.94. The stock has a market capitalization of $21.01 billion, a P/E ratio of 102.53, a P/E/G ratio of 1.59 and a beta of 3.31. Amer Sports, Inc. has a fifty-two week low of $11.31 and a fifty-two week high of $40.21. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.24.

Amer Sports (NYSE:AS) last issued its quarterly earnings results on Tuesday, May 20th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.38 billion. Amer Sports had a net margin of 3.70% and a return on equity of 7.21%. Amer Sports’s revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 EPS. On average, sell-side analysts expect that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AS shares. Citigroup reaffirmed a “buy” rating and issued a $42.00 target price (up from $30.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Morgan Stanley increased their price objective on shares of Amer Sports from $28.00 to $33.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 21st. TD Securities boosted their target price on shares of Amer Sports from $30.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, May 21st. UBS Group restated a “buy” rating and issued a $50.00 target price (up previously from $37.00) on shares of Amer Sports in a research report on Wednesday, May 21st. Finally, Piper Sandler started coverage on Amer Sports in a report on Thursday, June 26th. They set an “overweight” rating and a $45.00 price target on the stock. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.74.

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.