On Holding AG (NYSE:ONON) Receives Consensus Rating of “Moderate Buy” from Brokerages

On Holding AG (NYSE:ONON) has been assigned a consensus rating of “Moderate Buy” from the twenty-four analysts that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $56.77.

ONON has been the subject of a number of recent analyst reports. BTIG Research upgraded shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Wednesday, November 13th. Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $21.00 to $55.00 in a report on Monday, September 23rd. Piper Sandler boosted their price objective on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Hsbc Global Res raised ON to a “hold” rating in a research note on Thursday, September 5th. Finally, HSBC initiated coverage on ON in a research note on Thursday, September 5th. They set a “hold” rating and a $52.00 target price on the stock.

Institutional Investors Weigh In On ON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONON. RB Capital Management LLC increased its position in shares of ON by 214.8% during the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock valued at $1,125,000 after purchasing an additional 15,303 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in ON by 100.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after buying an additional 642,894 shares during the period. Y Intercept Hong Kong Ltd increased its position in ON by 584.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock valued at $4,195,000 after acquiring an additional 71,436 shares during the last quarter. Forte Capital LLC ADV purchased a new stake in shares of ON in the third quarter valued at $742,000. Finally, Coronation Fund Managers Ltd. lifted its holdings in shares of ON by 248.6% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company’s stock worth $6,010,000 after acquiring an additional 110,467 shares during the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Trading Down 1.3 %

Shares of NYSE:ONON opened at $55.63 on Friday. The stock has a 50 day moving average of $53.94 and a 200 day moving average of $47.21. The company has a market cap of $35.03 billion, a PE ratio of 129.38 and a beta of 2.30. ON has a 12-month low of $25.78 and a 12-month high of $60.12.

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.