On Holding AG (NYSE:ONON) Receives Average Rating of “Moderate Buy” from Analysts

Shares of On Holding AG (NYSE:ONON) have been assigned an average rating of “Moderate Buy” from the twenty research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $43.22.

Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price objective on ON from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price objective on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Evercore ISI lifted their price objective on shares of ON from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Truist Financial reaffirmed a “buy” rating and issued a $46.00 price target on shares of ON in a research report on Tuesday, June 18th. Finally, TD Cowen boosted their price objective on ON from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd.

ON Stock Down 3.6 %

Shares of NYSE ONON opened at $37.26 on Thursday. The firm has a market cap of $23.46 billion, a PE ratio of 84.64, a P/E/G ratio of 1.18 and a beta of 2.22. The company’s fifty day simple moving average is $40.03 and its 200 day simple moving average is $35.06. ON has a 12-month low of $23.41 and a 12-month high of $44.30.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The company had revenue of $581.41 million for the quarter, compared to analysts’ expectations of $555.52 million. On average, equities analysts predict that ON will post 0.78 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ONON. Allspring Global Investments Holdings LLC lifted its stake in ON by 4.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock valued at $46,076,000 after purchasing an additional 76,746 shares during the last quarter. Rheos Capital Works Inc. bought a new position in shares of ON during the 1st quarter worth $10,614,000. Blair William & Co. IL purchased a new stake in ON in the 1st quarter worth about $502,000. Janney Montgomery Scott LLC raised its stake in ON by 1,011.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock valued at $3,686,000 after acquiring an additional 94,814 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in ON during the first quarter valued at about $8,094,000. 33.11% of the stock is owned by institutional investors.

About ON

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.