On Holding AG (NYSE:ONON) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of On Holding AG (NYSE:ONON) have been given a consensus recommendation of “Moderate Buy” by the twenty-two analysts that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $46.89.

Several equities analysts have weighed in on the company. Stifel Nicolaus raised their target price on ON from $45.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial boosted their target price on ON from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Raymond James started coverage on ON in a report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $52.00 price objective on shares of ON in a report on Friday, August 23rd.

ON Price Performance

Shares of NYSE ONON opened at $49.74 on Friday. ON has a one year low of $23.41 and a one year high of $52.16. The business’s 50-day moving average price is $42.82 and its two-hundred day moving average price is $38.43. The company has a market capitalization of $31.32 billion, a P/E ratio of 113.05, a price-to-earnings-growth ratio of 1.37 and a beta of 2.24.

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). The firm had revenue of $627.66 million during 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%. On average, equities analysts anticipate that ON will post 0.82 EPS for the current year.

Hedge Funds Weigh In On ON

A number of hedge funds have recently modified their holdings of the stock. Quarry LP bought a new position in shares of ON during the second quarter valued at $32,000. WD Rutherford LLC bought a new position in shares of ON during the first quarter valued at $52,000. Asset Dedication LLC lifted its holdings in shares of ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after acquiring an additional 327 shares during the period. Orion Capital Management LLC lifted its holdings in shares of ON by 106.7% during the first quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock valued at $88,000 after acquiring an additional 1,280 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of ON by 24.0% during the second quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after acquiring an additional 500 shares during the period. 33.11% of the stock is owned by institutional investors and hedge funds.

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.