On Holding AG (NYSE:ONON) Given Average Rating of “Moderate Buy” by Brokerages

Shares of On Holding AG (NYSE:ONON) have been given an average rating of “Moderate Buy” by the twenty-three research firms that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $47.30.

A number of equities analysts have commented on ONON shares. Evercore ISI upgraded shares of ON to an “overweight” rating and boosted their price target for the company from $43.00 to $47.00 in a research report on Monday, August 12th. Raymond James began coverage on ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price target on the stock. Morgan Stanley lifted their price objective on ON from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. KeyCorp increased their target price on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Hsbc Global Res upgraded shares of ON to a “hold” rating in a research report on Thursday, September 5th.

Hedge Funds Weigh In On ON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONON. Rheos Capital Works Inc. acquired a new position in shares of ON in the 1st quarter valued at $10,614,000. Blair William & Co. IL acquired a new position in ON in the first quarter valued at about $502,000. Janney Montgomery Scott LLC increased its holdings in shares of ON by 1,011.8% in the first quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock worth $3,686,000 after acquiring an additional 94,814 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of ON during the first quarter worth about $8,094,000. Finally, Wellington Management Group LLP bought a new position in shares of ON during the 4th quarter valued at about $34,420,000. Institutional investors own 33.11% of the company’s stock.

ON Trading Up 0.3 %

ONON stock opened at $50.58 on Friday. ON has a 1-year low of $23.41 and a 1-year high of $52.16. The business’s 50 day moving average is $43.55 and its 200-day moving average is $38.88. The firm has a market cap of $31.85 billion, a P/E ratio of 114.96, a P/E/G ratio of 1.39 and a beta of 2.24.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). The company had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. Sell-side analysts forecast that ON will post 0.82 EPS for the current year.

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.