Prudential Financial Inc. Raises Stake in Amer Sports, Inc. $AS

by · The Markets Daily

Prudential Financial Inc. boosted its stake in shares of Amer Sports, Inc. (NYSE:AS – Free Report) by 546.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 113,780 shares of the company’s stock after purchasing an additional 96,185 shares during the period. Prudential Financial Inc.’s holdings in Amer Sports were worth $4,410,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in AS. GAMMA Investing LLC boosted its stake in Amer Sports by 17.4% in the second quarter. GAMMA Investing LLC now owns 2,614 shares of the company’s stock valued at $101,000 after acquiring an additional 387 shares during the last quarter. Scotia Capital Inc. lifted its stake in Amer Sports by 1.0% in the first 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 last quarter. SBI Securities Co. Ltd. grew its holdings in Amer Sports by 146.4% during the second quarter. SBI Securities Co. Ltd. now owns 897 shares of the company’s stock valued at $35,000 after purchasing an additional 533 shares during the period. Quarry LP purchased a new stake in Amer Sports in the first quarter worth $34,000. Finally, Charles Schwab Investment Management Inc. increased its position in Amer Sports by 22.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,386 shares of the company’s stock worth $331,000 after buying an additional 2,275 shares during the last quarter. Institutional investors own 40.25% of the company’s stock.

Analyst Ratings Changes

AS has been the subject of several research reports. Citigroup reiterated a “buy” rating on shares of Amer Sports in a research note on Thursday, October 30th. Nomura set a $39.80 price objective on shares of Amer Sports and gave the company a “buy” rating in a report on Tuesday, November 18th. Nomura Securities upgraded shares of Amer Sports from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Wall Street Zen lowered shares of Amer Sports from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. Finally, Truist Financial began coverage on shares of Amer Sports in a report on Monday, October 27th. They issued a “buy” rating and a $42.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.06.

View Our Latest Report on AS

Amer Sports Trading Down 0.2%

Shares of Amer Sports stock opened at $37.06 on Tuesday. The company’s 50-day moving average price is $32.85 and its 200-day moving average price is $35.97. The company has a current ratio of 1.51, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24. Amer Sports, Inc. has a 12-month low of $20.21 and a 12-month high of $42.36. The company has a market cap of $20.53 billion, a price-to-earnings ratio of 67.39, a PEG ratio of 1.03 and a beta of 2.84.

Amer Sports (NYSE:AS – Get Free Report) last issued its quarterly earnings data on Tuesday, November 18th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.25 by $0.08. Amer Sports had a net margin of 5.10% and a return on equity of 8.51%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company earned $0.14 earnings per share. Amer Sports’s revenue for the quarter was up 29.7% on a year-over-year basis. Amer Sports has set its FY 2025 guidance at 0.880-0.920 EPS. On average, equities analysts expect that Amer Sports, Inc. will post 0.46 earnings per share for the current fiscal year.

About Amer Sports

(Free Report)

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.

See Also

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