Norges Bank Acquires Shares of 1,875,640 Amer Sports, Inc. $AS

Norges Bank acquired a new stake in Amer Sports, Inc. (NYSE:AS) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,875,640 shares of the company’s stock, valued at approximately $70,055,000.

Other hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its position in Amer Sports by 484.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 848 shares of the company’s stock valued at $29,000 after purchasing an additional 703 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Amer Sports by 241.6% during the third quarter. PNC Financial Services Group Inc. now owns 1,199 shares of the company’s stock worth $42,000 after acquiring an additional 848 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Amer Sports by 174.3% during the second quarter. Smartleaf Asset Management LLC now owns 1,591 shares of the company’s stock worth $63,000 after acquiring an additional 1,011 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Amer Sports by 5,600.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,824 shares of the company’s stock worth $68,000 after acquiring an additional 1,792 shares during the last quarter. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Amer Sports during the third quarter worth about $99,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AS. UBS Group lifted their target price on Amer Sports from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Piper Sandler reaffirmed an “overweight” rating on shares of Amer Sports in a research report on Friday, February 20th. Robert W. Baird set a $51.00 target price on Amer Sports in a research report on Wednesday, May 20th. Weiss Ratings raised Amer Sports from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, April 27th. Finally, Evercore lifted their target price on Amer Sports from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $48.19.

Insider Transactions at Amer Sports

In related news, insider Wen-Chang (Victor) Chen sold 13,075 shares of Amer Sports stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $35.62, for a total value of $465,731.50. Following the completion of the transaction, the insider directly owned 149,821 shares in the company, valued at approximately $5,336,624.02. This trade represents a 8.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jie (James) Zheng sold 500,000 shares of Amer Sports stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $34.42, for a total value of $17,210,000.00. Following the completion of the transaction, the chief executive officer owned 1,262,385 shares of the company’s stock, valued at $43,451,291.70. This trade represents a 28.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 860,705 shares of company stock valued at $30,156,939 over the last ninety days.

Amer Sports Stock Down 0.9%

Shares of NYSE AS opened at $34.18 on Friday. The firm has a market cap of $18.93 billion, a price-to-earnings ratio of 42.73, a PEG ratio of 1.18 and a beta of 2.05. Amer Sports, Inc. has a 1 year low of $28.92 and a 1 year high of $42.76. The stock’s 50-day simple moving average is $34.81 and its 200-day simple moving average is $36.20. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 1.66.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, May 19th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.07. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.84 billion. Amer Sports had a return on equity of 10.29% and a net margin of 6.50%.The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period last year, the firm earned $0.27 earnings per share. Amer Sports has set its FY 2026 guidance at 1.180-1.230 EPS. As a group, equities analysts anticipate that Amer Sports, Inc. will post 1.22 earnings per share for the current fiscal year.

Amer Sports Profile

Amer Sports (NYSE:AS) is a Helsinki-based sporting goods group that designs, develops and markets performance-oriented equipment, apparel and footwear across multiple sports. The company focuses on product innovation, brand-driven marketing and global distribution to serve athletes and outdoor enthusiasts, offering goods for activities such as skiing, running, hiking, tennis, golf and diving.

Amer Sports’ portfolio comprises well-known sports and outdoor brands, including Salomon (outdoor footwear and winter sports), Atomic (alpine skis and ski equipment), Arc’teryx (technical outerwear and climbing gear), Wilson (racquet and ball sports equipment) and Suunto (precision instruments and sports watches).