ON (NYSE:ONON) Hits New 52-Week High at $38.80

On Holding AG (NYSE:ONON) shares reached a new 52-week high during trading on Thursday . The company traded as high as $38.80 and last traded at $38.68, with a volume of 1841560 shares trading hands. The stock had previously closed at $37.59.

Analyst Ratings Changes

A number of analysts recently issued reports on ONON shares. Needham & Company LLC boosted their price target on ON from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Stifel Nicolaus restated a “buy” rating and set a $41.00 target price on shares of ON in a report on Thursday, May 16th. Redburn Atlantic reiterated a “neutral” rating and set a $34.00 price objective on shares of ON in a report on Thursday, March 7th. William Blair assumed coverage on ON in a report on Tuesday, April 16th. They set an “outperform” rating for the company. Finally, Telsey Advisory Group increased their price objective on ON from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.87.

ON Trading Up 4.7 %

The company’s fifty day moving average is $33.91 and its 200-day moving average is $30.87. The firm has a market capitalization of $25.33 billion, a P/E ratio of 91.43, a P/E/G ratio of 1.35 and a beta of 2.17.

ON (NYSE:ONON) last released its earnings results on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.18). The company had revenue of $504.69 million for the quarter, compared to analyst estimates of $515.30 million. ON had a net margin of 6.46% and a return on equity of 11.13%. On average, equities research analysts anticipate that On Holding AG will post 0.65 EPS for the current year.

Institutional Investors Weigh In On ON

Several large investors have recently made changes to their positions in the company. William Blair Investment Management LLC bought a new stake in ON during the 1st quarter worth about $121,712,000. American Century Companies Inc. raised its position in shares of ON by 109.3% in the 3rd quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock valued at $182,688,000 after acquiring an additional 3,428,794 shares during the period. Norges Bank acquired a new stake in shares of ON in the 4th quarter valued at approximately $57,916,000. Bamco Inc. NY raised its position in shares of ON by 243.0% in the 3rd quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock valued at $84,239,000 after acquiring an additional 2,145,318 shares during the period. Finally, Jericho Capital Asset Management L.P. acquired a new stake in ON during the 3rd quarter worth approximately $59,539,000. Institutional investors own 33.11% of the company’s stock.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.