Tsfg LLC Takes $69,000 Position in On Holding AG (NYSE:ONON)

Tsfg LLC bought a new position in shares of On Holding AG (NYSE:ONON) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 1,370 shares of the company’s stock, valued at approximately $69,000.

A number of other hedge funds also recently added to or reduced their stakes in ONON. William Blair Investment Management LLC purchased a new position in shares of ON in the 1st quarter valued at about $121,712,000. Price T Rowe Associates Inc. MD increased its holdings in shares of ON by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock valued at $98,636,000 after acquiring an additional 14,674 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of ON by 66,838.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after acquiring an additional 2,406,200 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of ON by 30.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,224,894 shares of the company’s stock worth $78,717,000 after acquiring an additional 516,478 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in ON during the first quarter worth approximately $65,898,000. 33.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ONON shares. Raymond James started coverage on shares of ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price objective for the company. HSBC assumed coverage on shares of ON in a research note on Thursday, September 5th. They issued a “hold” rating and a $52.00 price objective for the company. Evercore ISI upgraded ON to an “overweight” rating and lifted their target price for the stock from $43.00 to $47.00 in a research report on Monday, August 12th. Piper Sandler upped their target price on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Finally, Hsbc Global Res raised shares of ON to a “hold” rating in a report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.74.

ON Stock Performance

ON stock opened at $49.13 on Thursday. On Holding AG has a one year low of $24.15 and a one year high of $52.80. The company has a market cap of $30.93 billion, a P/E ratio of 111.66 and a beta of 2.24. The business has a fifty day moving average of $46.80 and a two-hundred day moving average of $40.60.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The company had revenue of $627.66 million for the quarter, compared to analysts’ expectations of $634.43 million. Sell-side analysts predict that On Holding AG will post 0.76 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.