Stock Traders Purchase Large Volume of Call Options on ON (NYSE:ONON)

On Holding AG (NYSE:ONON) was the recipient of some unusual options trading on Tuesday. Traders purchased 19,517 call options on the stock. This is an increase of 59% compared to the typical daily volume of 12,264 call options.

Analyst Upgrades and Downgrades

ONON has been the subject of a number of research analyst reports. KeyCorp raised their price target on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. The Goldman Sachs Group lifted their target price on shares of ON from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. UBS Group reissued a “buy” rating and issued a $63.00 price target on shares of ON in a research note on Friday, December 27th. Stifel Nicolaus lifted their price objective on ON from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Raymond James raised ON from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $58.00 to $63.00 in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.50.

ON Price Performance

Shares of NYSE:ONON traded up $1.51 during midday trading on Thursday, hitting $56.23. The company had a trading volume of 1,789,372 shares, compared to its average volume of 2,591,564. The company has a market cap of $35.40 billion, a price-to-earnings ratio of 130.58, a PEG ratio of 1.16 and a beta of 2.30. ON has a 12-month low of $26.03 and a 12-month high of $60.12. The company has a fifty day moving average of $55.75 and a two-hundred day moving average of $48.55.

Institutional Trading of ON

Institutional investors and hedge funds have recently modified their holdings of the company. Private Trust Co. NA bought a new position in shares of ON during the 3rd quarter valued at about $26,000. Blue Trust Inc. raised its stake in shares of ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after acquiring an additional 403 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of ON during the 3rd quarter worth $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the period. Finally, Quarry LP bought a new position in ON in the second quarter worth about $32,000. 36.39% of the stock is currently owned by institutional investors.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.