ON Sees Unusually Large Options Volume (NYSE:ONON)

On Holding AG (NYSE:ONON) saw some unusual options trading on Friday. Traders purchased 23,091 call options on the company. This represents an increase of 81% compared to the average volume of 12,726 call options.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group raised their price target on ON from $65.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Needham & Company LLC reissued a “buy” rating and set a $64.00 price target on shares of ON in a report on Tuesday, March 4th. Williams Trading raised their price target on ON from $60.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. The Goldman Sachs Group lowered ON from a “buy” rating to a “neutral” rating and set a $57.00 price target on the stock. in a report on Wednesday, February 12th. Finally, TD Cowen raised their price target on ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ON presently has a consensus rating of “Buy” and a consensus target price of $61.90.

Hedge Funds Weigh In On ON

Institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its position in ON by 3.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,707 shares of the company’s stock worth $1,025,000 after acquiring an additional 705 shares during the period. Wealthedge Investment Advisors LLC acquired a new stake in ON during the 4th quarter worth about $1,556,000. Park Square Financial Group LLC acquired a new stake in ON during the 4th quarter worth about $32,000. Azzad Asset Management Inc. ADV boosted its position in ON by 0.4% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 146,393 shares of the company’s stock worth $8,018,000 after acquiring an additional 608 shares during the period. Finally, Bernard Wealth Management Corp. acquired a new stake in ON during the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Trading Up 1.4 %

Shares of ONON opened at $46.22 on Friday. The business’s 50-day moving average price is $53.05 and its 200 day moving average price is $52.57. The stock has a market capitalization of $29.10 billion, a P/E ratio of 107.49, a P/E/G ratio of 1.02 and a beta of 2.35. ON has a 1-year low of $29.84 and a 1-year high of $64.05.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.