Sabal Trust CO Purchases New Position in Amer Sports, Inc. (NYSE:AS)

Sabal Trust CO acquired a new position in shares of Amer Sports, Inc. (NYSE:AS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 70,057 shares of the company’s stock, valued at approximately $881,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AS. Tocqueville Asset Management L.P. purchased a new position in Amer Sports during the 1st quarter worth $813,000. Sei Investments Co. purchased a new stake in shares of Amer Sports during the 1st quarter valued at $968,000. Capstone Investment Advisors LLC bought a new stake in shares of Amer Sports during the 1st quarter worth $7,301,000. Quadrature Capital Ltd purchased a new position in shares of Amer Sports in the 1st quarter worth about $390,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Amer Sports during the first quarter valued at about $5,705,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

Amer Sports Stock Performance

Shares of NYSE AS opened at $13.65 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 0.97. The business has a 50-day moving average of $12.11 and a 200-day moving average of $14.08. Amer Sports, Inc. has a 12 month low of $10.11 and a 12 month high of $18.23.

Amer Sports (NYSE:AS) last released its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The company had revenue of $993.80 million during the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports’s revenue was up 16.0% on a year-over-year basis. As a group, sell-side analysts expect that Amer Sports, Inc. will post 0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on AS shares. Morgan Stanley lowered their price objective on shares of Amer Sports from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 23rd. UBS Group increased their target price on shares of Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Evercore ISI restated an “outperform” rating and set a $21.00 price target on shares of Amer Sports in a research note on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Amer Sports presently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

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.