State Board of Administration of Florida Retirement System Takes $2.05 Million Position in Amer Sports, Inc. $AS

State Board of Administration of Florida Retirement System acquired a new position in Amer Sports, Inc. (NYSE:AS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 52,802 shares of the company's stock, valued at approximately $2,047,000.

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Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Amer Sports by 11,946.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 626,433 shares of the company's stock valued at $24,281,000 after acquiring an additional 621,233 shares in the last quarter. Trexquant Investment LP increased its position in shares of Amer Sports by 341.1% in the first quarter. Trexquant Investment LP now owns 799,989 shares of the company's stock worth $21,384,000 after purchasing an additional 618,632 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Amer Sports in the second quarter valued at approximately $18,963,000. Geode Capital Management LLC lifted its position in Amer Sports by 136.1% during the second quarter. Geode Capital Management LLC now owns 747,218 shares of the company's stock valued at $28,962,000 after purchasing an additional 430,702 shares during the last quarter. Finally, Citigroup Inc. grew its stake in Amer Sports by 1,402.2% in the 1st quarter. Citigroup Inc. now owns 441,628 shares of the company's stock worth $11,805,000 after buying an additional 412,229 shares in the last quarter. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AS has been the topic of several research reports. UBS Group raised their price objective on shares of Amer Sports from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, November 19th. Nomura Securities raised Amer Sports from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, November 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of Amer Sports in a report on Monday. HSBC set a $50.00 price objective on Amer Sports and gave the company a "buy" rating in a report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. cut their target price on Amer Sports from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Amer Sports presently has a consensus rating of "Moderate Buy" and an average target price of $44.06.

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View Our Latest Stock Report on Amer Sports

Amer Sports Trading Down 0.4%

Shares of AS stock opened at $35.84 on Friday. The business has a 50-day moving average of $33.02 and a 200 day moving average of $36.05. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.51 and a quick ratio of 0.70. Amer Sports, Inc. has a 1-year low of $20.21 and a 1-year high of $42.36. The stock has a market capitalization of $19.85 billion, a PE ratio of 65.16, a P/E/G ratio of 0.98 and a beta of 2.85.

• Amer Sports: The New ONON and DECK of Consumer Discretionary?

Amer Sports (NYSE:AS - Get Free Report) last announced its quarterly earnings results on Tuesday, November 18th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.08. The business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.73 billion. Amer Sports had a return on equity of 8.51% and a net margin of 5.10%.The business's quarterly revenue was up 29.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. Amer Sports has set its FY 2025 guidance at 0.880-0.920 EPS. As a group, sell-side analysts anticipate that Amer Sports, Inc. will post 0.46 earnings per share for the current 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.

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