On Holding AG (NYSE:ONON) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its position in shares of On Holding AG (NYSE:ONON) by 5.1% during the 1st quarter, HoldingsChannel reports. The fund owned 8,978 shares of the company’s stock after selling 486 shares during the quarter. Park Avenue Securities LLC’s holdings in ON were worth $318,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC raised its stake in ON by 1,100.0% during the fourth 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 period. VisionPoint Advisory Group LLC purchased a new stake in shares of ON during the 4th quarter valued at approximately $32,000. Global Wealth Management Investment Advisory Inc. acquired a new position in ON in the fourth quarter valued at approximately $33,000. Spire Wealth Management grew its position in ON by 66.2% in the fourth quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock worth $45,000 after acquiring an additional 643 shares during the period. Finally, Rakuten Securities Inc. acquired a new stake in ON during the fourth quarter worth $47,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Wall Street Analyst Weigh In

ONON has been the topic of several recent analyst reports. William Blair began coverage on ON in a research note on Tuesday, April 16th. They issued an “outperform” rating on the stock. Sanford C. Bernstein assumed coverage on shares of ON in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $50.00 target price on the stock. Evercore ISI lifted their price target on shares of ON from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Truist Financial restated a “buy” rating and issued a $46.00 price objective on shares of ON in a report on Tuesday, June 18th. Finally, TD Cowen lifted their target price on shares of ON from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

ON Stock Down 0.6 %

NYSE ONON opened at $38.80 on Monday. On Holding AG has a 52 week low of $23.41 and a 52 week high of $44.30. The firm has a 50 day moving average of $37.82 and a two-hundred day moving average of $33.23. The stock has a market capitalization of $24.43 billion, a PE ratio of 88.18, a price-to-earnings-growth ratio of 1.14 and a beta of 2.27.

ON (NYSE:ONON) last issued its earnings results on Tuesday, May 14th. The company reported $0.32 EPS 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 firm had revenue of $581.41 million during the quarter, compared to the consensus estimate of $555.52 million. On average, equities research analysts expect that On Holding AG will post 0.78 earnings per share for the current fiscal year.

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.