ON (NYSE:ONON) Reaches New 1-Year High – Here’s What Happened

On Holding AG (NYSE:ONON) hit a new 52-week high during trading on Tuesday . The stock traded as high as $62.37 and last traded at $62.52, with a volume of 1690873 shares. The stock had previously closed at $59.90.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Stifel Nicolaus boosted their target price on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 target price on shares of ON in a report on Wednesday, January 15th. Citigroup assumed coverage on ON in a report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 target price on the stock. KeyCorp boosted their target price on ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Finally, Truist Financial boosted their target price on ON from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.73.

ON Stock Performance

The firm’s fifty day simple moving average is $56.85 and its 200 day simple moving average is $49.85. The stock has a market capitalization of $39.23 billion, a P/E ratio of 144.54, a price-to-earnings-growth ratio of 1.19 and a beta of 2.30.

Institutional Investors Weigh In On ON

A number of large investors have recently modified their holdings of the business. Jennison Associates LLC increased its position in ON by 27.4% during the 4th quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock worth $112,259,000 after purchasing an additional 440,685 shares in the last quarter. Cerity Partners LLC grew its stake in shares of ON by 189.9% during the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after buying an additional 471,323 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of ON by 338.3% during the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock worth $29,834,000 after buying an additional 459,157 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of ON by 4.3% in the 3rd quarter. Wasatch Advisors LP now owns 419,536 shares of the company’s stock valued at $21,040,000 after acquiring an additional 17,362 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of ON by 23.4% during the 3rd quarter. Raymond James & Associates now owns 256,725 shares of the company’s stock valued at $12,875,000 after acquiring an additional 48,600 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

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.