HighPoint Advisor Group LLC Purchases New Holdings in On Holding AG (NYSE:ONON)

HighPoint Advisor Group LLC acquired a new stake in shares of On Holding AG (NYSE:ONON) in the fourth quarter, HoldingsChannel reports. The fund acquired 11,175 shares of the company’s stock, valued at approximately $301,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Orion Capital Management LLC increased its position in shares of ON by 1,100.0% in the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after purchasing an additional 1,100 shares during the last quarter. VisionPoint Advisory Group LLC bought a new stake in ON in the fourth quarter valued at about $32,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in ON during the fourth quarter valued at approximately $33,000. Asset Dedication LLC bought a new position in ON during the 3rd quarter worth approximately $35,000. Finally, Spire Wealth Management grew its position in shares of ON by 66.2% in the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock worth $45,000 after acquiring an additional 643 shares in the last quarter. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ONON shares. JPMorgan Chase & Co. upped their price target on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday. Needham & Company LLC raised their price target on shares of ON from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. William Blair began coverage on shares of ON in a research report on Tuesday, April 16th. They set an “outperform” rating for the company. UBS Group raised their target price on shares of ON from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, Redburn Atlantic reaffirmed a “neutral” rating and set a $34.00 target price on shares of ON in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, ON has an average rating of “Moderate Buy” and a consensus price target of $42.00.

ON Stock Performance

Shares of ONON opened at $41.73 on Friday. The stock’s fifty day moving average is $37.06 and its 200-day moving average is $32.74. The firm has a market capitalization of $26.28 billion, a price-to-earnings ratio of 94.84, a price-to-earnings-growth ratio of 1.25 and a beta of 2.27. On Holding AG has a one year low of $23.41 and a one year high of $44.30.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The company had revenue of $581.41 million during the quarter, compared to analyst estimates of $555.52 million. Analysts forecast that On Holding AG will post 0.77 EPS for the current fiscal year.

ON Profile

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.