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

Shares of On Holding AG (NYSE:ONON) have been assigned an average recommendation of “Moderate Buy” from the twenty-three brokerages that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $56.05.

Several equities research analysts recently weighed in on ONON shares. Needham & Company LLC started coverage on ON in a report on Friday, November 22nd. They set a “buy” rating and a $64.00 price objective on the stock. BTIG Research raised ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Wednesday, November 13th. Morgan Stanley raised their price objective on ON from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. HSBC assumed coverage on ON in a report on Thursday, September 5th. They set a “hold” rating and a $52.00 target price on the stock. Finally, The Goldman Sachs Group lifted their target price on ON from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th.

ON Stock Performance

Shares of ONON opened at $59.55 on Wednesday. ON has a 52-week low of $25.78 and a 52-week high of $59.84. The business’s fifty day moving average is $51.50 and its 200-day moving average is $45.27. The firm has a market cap of $37.50 billion, a price-to-earnings ratio of 138.49 and a beta of 2.30.

Hedge Funds Weigh In On ON

Institutional investors have recently bought and sold shares of the company. Private Trust Co. NA purchased a new position in ON in the third quarter valued at approximately $26,000. Blue Trust Inc. lifted its stake in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of ON during the third quarter worth $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of ON during the second quarter worth $32,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

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.