National Bank of Canada FI Grows Holdings in On Holding AG (NYSE:ONON)

National Bank of Canada FI raised its position in On Holding AG (NYSE:ONON) by 24.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,585 shares of the company’s stock after buying an additional 500 shares during the period. National Bank of Canada FI’s holdings in ON were worth $98,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ameritas Advisory Services LLC boosted its holdings in ON by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock valued at $924,000 after purchasing an additional 300 shares during the last quarter. Artemis Investment Management LLP boosted its stake in shares of ON by 1.9% during 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. grew its position in shares of ON by 3.2% during the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after buying an additional 325 shares in the last quarter. Vista Capital Partners Inc. increased its stake in shares of ON by 4.3% in the first quarter. Vista Capital Partners Inc. now owns 18,000 shares of the company’s stock worth $637,000 after buying an additional 750 shares during the last quarter. Finally, Bennett Selby Investments LP increased its stake in shares of ON by 5.0% in the second quarter. Bennett Selby Investments LP now owns 17,013 shares of the company’s stock worth $660,000 after buying an additional 808 shares during the last quarter. 33.11% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

Shares of ONON stock opened at $48.63 on Friday. The firm has a market capitalization of $30.62 billion, a PE ratio of 110.53, a price-to-earnings-growth ratio of 1.29 and a beta of 2.24. On Holding AG has a 1 year low of $23.41 and a 1 year high of $49.35. The stock has a fifty day moving average of $41.80 and a two-hundred day moving average of $38.00.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). The company had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. Equities research analysts predict that On Holding AG will post 0.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ONON has been the subject of several recent analyst reports. Hsbc Global Res raised shares of ON to a “hold” rating in a report on Thursday, September 5th. Barclays boosted their price objective on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Morgan Stanley lifted their target price on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. KeyCorp raised their price objective on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Truist Financial boosted their target price on shares of ON from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, ON currently has an average rating of “Moderate Buy” and an average target price of $46.16.

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.