Park Avenue Securities LLC Acquires 2,194 Shares of On Holding AG (NYSE:ONON)

Park Avenue Securities LLC raised its position in On Holding AG (NYSE:ONON) by 19.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 13,441 shares of the company’s stock after buying an additional 2,194 shares during the period. Park Avenue Securities LLC’s holdings in ON were worth $674,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Ameritas Advisory Services LLC boosted its position in ON by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock valued at $924,000 after buying an additional 300 shares during the last quarter. Artemis Investment Management LLP boosted its position in ON by 1.9% in the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock valued at $637,000 after buying an additional 302 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in ON by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock valued at $404,000 after buying an additional 325 shares during the last quarter. Asset Dedication LLC boosted its position in ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after buying an additional 327 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its position in ON by 0.7% in the 2nd quarter. King Luther Capital Management Corp now owns 56,021 shares of the company’s stock valued at $2,174,000 after buying an additional 405 shares during the last quarter. 33.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ONON has been the topic of a number of recent research reports. Morgan Stanley increased their price objective on ON from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus increased their price target on ON from $45.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Telsey Advisory Group reissued an “outperform” rating and issued a $47.00 price target on shares of ON in a research note on Tuesday, August 13th. Bank of America raised ON from an “underperform” rating to a “neutral” rating and increased their price target for the company from $21.00 to $55.00 in a research note on Monday, September 23rd. Finally, Barclays increased their price target on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, ON currently has an average rating of “Moderate Buy” and an average target price of $49.74.

ON Trading Down 2.0 %

ONON stock opened at $49.94 on Friday. The stock has a 50-day moving average price of $46.09 and a two-hundred day moving average price of $40.21. The stock has a market cap of $31.44 billion, a PE ratio of 113.50, a price-to-earnings-growth ratio of 1.22 and a beta of 2.24. On Holding AG has a 1 year low of $23.41 and a 1 year high of $52.80.

ON (NYSE:ONON) last released its 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). The firm had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. On average, analysts forecast that On Holding AG will post 0.81 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.