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

On Holding AG (NYSE:ONON) has received an average rating of “Moderate Buy” from the twenty-four analysts that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $59.36.

Several equities research analysts recently issued reports on ONON shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 price target on shares of ON in a research note on Wednesday, January 15th. UBS Group reiterated a “buy” rating and issued a $63.00 price target on shares of ON in a research note on Friday, December 27th. Williams Trading upgraded ON from a “hold” rating to a “buy” rating and raised their price objective for the company from $40.00 to $60.00 in a research note on Wednesday, November 13th. Robert W. Baird upped their target price on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $64.00 price target on shares of ON in a research note on Wednesday, January 15th.

ON Stock Down 2.2 %

Shares of NYSE:ONON opened at $58.61 on Thursday. The company has a market capitalization of $36.90 billion, a price-to-earnings ratio of 136.30, a price-to-earnings-growth ratio of 1.19 and a beta of 2.30. The company has a 50 day moving average of $56.37 and a two-hundred day moving average of $49.28. ON has a 52-week low of $26.03 and a 52-week high of $60.67.

Hedge Funds Weigh In On ON

Several institutional investors have recently modified their holdings of ONON. RB Capital Management LLC raised its stake in 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 acquiring an additional 15,303 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in shares of 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 purchasing an additional 71,436 shares during the period. Forte Capital LLC ADV bought a new stake in shares of ON during the third quarter valued at about $742,000. Coronation Fund Managers Ltd. lifted its holdings in ON by 248.6% in the second quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company’s stock worth $6,010,000 after purchasing an additional 110,467 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in ON in the 3rd quarter valued at about $658,000. Institutional investors 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.