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

Shares of On Holding AG (NYSE:ONON) have been given an average recommendation of “Moderate Buy” by the twenty-four analysts that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $59.73.

ONON has been the subject of a number of research reports. BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Wednesday, November 13th. TD Cowen raised their target price on ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Morgan Stanley lifted their price target on shares of ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Telsey Advisory Group restated an “outperform” rating and issued a $67.00 price objective on shares of ON in a research note on Wednesday, January 15th. Finally, Truist Financial raised their price objective on shares of ON from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th.

Institutional Investors Weigh In On ON

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Apollon Wealth Management LLC increased its position in ON by 74.0% in the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock worth $877,000 after purchasing an additional 6,808 shares during the period. RB Capital Management LLC boosted its stake in shares of ON by 214.8% in 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. Allspring Global Investments Holdings LLC grew its position in shares of ON by 34.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after buying an additional 349,789 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of ON by 584.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock worth $4,195,000 after buying an additional 71,436 shares during the period. Finally, Forte Capital LLC ADV bought a new stake in shares of ON during the third quarter worth approximately $742,000. Institutional investors own 36.39% of the company’s stock.

ON Stock Performance

NYSE ONON opened at $51.94 on Monday. ON has a twelve month low of $27.37 and a twelve month high of $64.05. The stock has a market cap of $32.70 billion, a PE ratio of 120.79, a PEG ratio of 1.20 and a beta of 2.30. The firm has a 50-day simple moving average of $56.89 and a 200 day simple moving average of $51.65.

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.