On Holding AG (NYSE:ONON) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its stake in On Holding AG (NYSE:ONON) by 20.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,255 shares of the company’s stock after buying an additional 722 shares during the quarter. Farther Finance Advisors LLC’s holdings in ON were worth $213,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Capital Advisors Inc. OK increased its holdings in ON by 5.1% during the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock worth $310,000 after purchasing an additional 301 shares during the period. Americana Partners LLC raised its holdings in ON by 43.0% during the third quarter. Americana Partners LLC now owns 8,060 shares of the company’s stock worth $404,000 after purchasing an additional 2,424 shares during the last quarter. Stephens Inc. AR grew its holdings in shares of ON by 9.1% during the third quarter. Stephens Inc. AR now owns 41,777 shares of the company’s stock worth $2,095,000 after buying an additional 3,493 shares in the last quarter. US Bancorp DE boosted its stake in ON by 207.7% in the 3rd quarter. US Bancorp DE now owns 17,649 shares of the company’s stock worth $885,000 after buying an additional 11,914 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of ON during the 3rd quarter valued at $79,000. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

ON Stock Performance

ON stock opened at $51.49 on Friday. The company has a 50 day moving average price of $48.85 and a 200-day moving average price of $42.54. The company has a market capitalization of $32.42 billion, a PE ratio of 97.15 and a beta of 2.25. On Holding AG has a fifty-two week low of $24.15 and a fifty-two week high of $52.80.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The firm had revenue of $627.66 million during the quarter, compared to analysts’ expectations of $634.43 million. On average, analysts forecast that On Holding AG will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ONON. Telsey Advisory Group upped their target price on shares of ON from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday. Raymond James began coverage on ON in a report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 price target for the company. Piper Sandler boosted their price objective on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. KeyCorp lifted their price target on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Finally, Truist Financial upped their price objective on shares of ON from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, ON has a consensus rating of “Moderate Buy” and a consensus price target of $50.37.

ON 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.