On Holding AG (NYSE:ONON) Receives Consensus Recommendation of “Moderate Buy” from Analysts

On Holding AG (NYSE:ONON) has been assigned an average rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $46.89.

A number of research firms recently issued reports on ONON. Sanford C. Bernstein assumed coverage on ON in a report on Tuesday, June 11th. They issued an “outperform” rating and a $50.00 price target for the company. Stifel Nicolaus boosted their price objective on ON from $45.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley boosted their price objective on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Hsbc Global Res raised ON to a “hold” rating in a report on Thursday, September 5th. Finally, Piper Sandler reissued an “overweight” rating and set a $52.00 price objective on shares of ON in a report on Friday, August 23rd.

ON Stock Down 2.4 %

ON stock opened at $49.74 on Friday. The stock has a 50-day simple moving average of $42.82 and a 200 day simple moving average of $38.43. ON has a 12-month low of $23.41 and a 12-month high of $52.16. The stock has a market capitalization of $31.32 billion, a price-to-earnings ratio of 113.05, a P/E/G ratio of 1.37 and a beta of 2.24.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The business had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. As a group, sell-side analysts anticipate that ON will post 0.82 EPS for the current year.

Hedge Funds Weigh In On ON

Several institutional investors and hedge funds have recently modified their holdings of the business. William Blair Investment Management LLC acquired a new position in shares of ON in the 1st quarter valued at approximately $121,712,000. 1832 Asset Management L.P. lifted its stake in ON by 36.2% in the 4th quarter. 1832 Asset Management L.P. now owns 3,160,000 shares of the company’s stock valued at $85,225,000 after acquiring an additional 840,600 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ON by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock valued at $98,636,000 after acquiring an additional 14,674 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in ON by 30.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,224,894 shares of the company’s stock valued at $78,717,000 after acquiring an additional 516,478 shares in the last quarter. Finally, Norges Bank bought a new stake in ON in the 4th quarter valued at approximately $57,916,000. 33.11% of the stock is currently owned by institutional investors and hedge funds.

ON Company 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.