J.W. Cole Advisors Inc. Cuts Stock Holdings in On Holding AG (NYSE:ONON)

J.W. Cole Advisors Inc. lowered its position in On Holding AG (NYSE:ONON) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,685 shares of the company’s stock after selling 670 shares during the period. J.W. Cole Advisors Inc.’s holdings in ON were worth $531,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. WD Rutherford LLC purchased a new stake in ON in the 1st quarter valued at about $52,000. Asset Dedication LLC lifted its holdings in ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after acquiring an additional 327 shares during the period. Principal Securities Inc. purchased a new position in ON in the fourth quarter worth $88,000. Orion Capital Management LLC grew its stake in ON by 106.7% in the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock valued at $88,000 after purchasing an additional 1,280 shares during the period. Finally, National Bank of Canada FI increased its position in shares of ON by 24.0% during the 2nd quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after purchasing an additional 500 shares during the last quarter. 33.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ONON shares. The Goldman Sachs Group boosted their price target on shares of ON from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Sanford C. Bernstein began coverage on shares of ON in a research note on Tuesday, June 11th. They set an “outperform” rating and a $50.00 price target for the company. Morgan Stanley upped their price objective on ON from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Piper Sandler reissued an “overweight” rating and issued a $52.00 target price on shares of ON in a research report on Friday, August 23rd. Finally, Stifel Nicolaus boosted their target price on ON from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, ON has a consensus rating of “Moderate Buy” and a consensus price target of $46.16.

ON Price Performance

Shares of NYSE:ONON opened at $49.26 on Wednesday. The company has a market cap of $31.02 billion, a price-to-earnings ratio of 111.96, a PEG ratio of 1.37 and a beta of 2.24. On Holding AG has a one year low of $23.41 and a one year high of $50.12. The firm has a fifty day moving average price of $42.28 and a two-hundred day moving average price of $38.27.

ON (NYSE:ONON) last posted its earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The business had revenue of $627.66 million for the quarter, compared to analysts’ expectations of $634.43 million. Equities research analysts expect that On Holding AG will post 0.82 EPS for the current fiscal year.

ON Company Profile

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.