ON Sees Unusually High Options Volume (NYSE:ONON)

On Holding AG (NYSE:ONON) saw unusually large options trading activity on Monday. Traders bought 19,317 put options on the company. This is an increase of approximately 67% compared to the average volume of 11,548 put options.

Wall Street Analysts Forecast Growth

ONON has been the topic of several research reports. UBS Group boosted their target price on ON from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Hsbc Global Res raised shares of ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 target price on shares of ON in a research report on Tuesday, March 4th. Bank of America began coverage on shares of ON in a research report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target on the stock. Finally, HSBC raised shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ON currently has an average rating of “Buy” and a consensus price target of $61.90.

ON Stock Performance

Shares of ONON opened at $43.92 on Tuesday. ON has a fifty-two week low of $29.84 and a fifty-two week high of $64.05. The firm has a market cap of $27.66 billion, a price-to-earnings ratio of 102.15, a PEG ratio of 1.02 and a beta of 2.35. The firm has a 50 day moving average price of $51.85 and a 200-day moving average price of $52.68.

Institutional Investors Weigh In On ON

A number of large investors have recently modified their holdings of ONON. Private Trust Co. NA purchased a new position in shares of ON during the 3rd quarter worth approximately $26,000. Bank of Montreal Can grew its stake in ON by 27.2% in the third quarter. Bank of Montreal Can now owns 46,320 shares of the company’s stock worth $2,368,000 after purchasing an additional 9,895 shares during the period. Townsquare Capital LLC bought a new position in ON in the third quarter worth $609,000. CreativeOne Wealth LLC purchased a new stake in shares of ON in the 3rd quarter worth about $665,000. Finally, Hantz Financial Services Inc. bought a new position in shares of ON in the 3rd quarter worth about $1,128,000. 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.