Wasatch Advisors LP Takes Position in On Holding AG (NYSE:ONON)

Wasatch Advisors LP purchased a new stake in shares of On Holding AG (NYSE:ONON) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 418,952 shares of the company’s stock, valued at approximately $14,823,000. Wasatch Advisors LP owned 0.07% of ON as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kestra Advisory Services LLC raised its holdings in shares of ON by 13.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 11,262 shares of the company’s stock valued at $313,000 after acquiring an additional 1,331 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of ON by 74.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 145,277 shares of the company’s stock worth $4,042,000 after acquiring an additional 61,845 shares during the last quarter. Hsbc Holdings PLC purchased a new position in ON in the third quarter worth $1,031,000. Mariner LLC lifted its stake in ON by 30.9% during the third quarter. Mariner LLC now owns 63,314 shares of the company’s stock worth $1,761,000 after purchasing an additional 14,957 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its holdings in shares of ON by 22.0% in the 3rd quarter. Natixis Advisors L.P. now owns 35,589 shares of the company’s stock worth $990,000 after purchasing an additional 6,406 shares in the last quarter. 33.11% of the stock is owned by hedge funds and other institutional investors.

ON Trading Down 2.1 %

NYSE ONON opened at $37.24 on Wednesday. The stock has a market cap of $23.45 billion, a price-to-earnings ratio of 84.64, a PEG ratio of 1.14 and a beta of 2.23. On Holding AG has a 12 month low of $23.41 and a 12 month high of $44.30. The company’s 50 day moving average is $38.04 and its two-hundred day moving average is $33.33.

ON (NYSE:ONON) last released its quarterly earnings data 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. The firm had revenue of $581.41 million during the quarter, compared to analyst estimates of $555.52 million. ON had a return on equity of 11.13% and a net margin of 6.46%. Sell-side analysts forecast that On Holding AG will post 0.78 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Redburn Atlantic reissued a “neutral” rating and issued a $34.00 price target on shares of ON in a research note on Thursday, March 7th. UBS Group increased their target price on ON from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. TD Cowen boosted their price objective on ON from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Truist Financial restated a “buy” rating and issued a $46.00 target price on shares of ON in a report on Tuesday, June 18th. Finally, TheStreet lowered shares of ON from a “c” rating to a “d+” rating in a report on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.53.

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.