ON (NYSE:ONON) Sets New 52-Week High at $44.83

On Holding AG (NYSE:ONON)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $44.83 and last traded at $44.80, with a volume of 1224006 shares traded. The stock had previously closed at $43.19.

Analyst Ratings Changes

ONON has been the topic of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $52.00 target price on shares of ON in a report on Friday. The Goldman Sachs Group boosted their price target on ON from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Stifel Nicolaus raised their target price on ON from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Evercore ISI upgraded ON to an “overweight” rating and lifted their price objective for the stock from $43.00 to $47.00 in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. increased their price target on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $45.83.

ON Trading Up 3.2 %

The stock has a market cap of $28.06 billion, a price-to-earnings ratio of 101.30, a price-to-earnings-growth ratio of 1.22 and a beta of 2.22. The stock’s 50-day simple moving average is $39.63 and its 200-day simple moving average is $36.44.

Institutional Trading of ON

Large investors have recently made changes to their positions in the company. VisionPoint Advisory Group LLC bought a new position in shares of ON in the 4th quarter valued at $32,000. 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 acquiring an additional 1,100 shares in the last quarter. Quarry LP acquired a new stake in shares of ON in the 2nd quarter valued at approximately $32,000. Global Wealth Management Investment Advisory Inc. acquired a new position in ON during the 4th quarter worth approximately $33,000. Finally, Spire Wealth Management lifted its stake in ON by 66.2% in the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock valued at $45,000 after purchasing an additional 643 shares during the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

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.