On Holding AG (NYSE:ONON) Receives $49.74 Consensus Price Target from Analysts

Shares of On Holding AG (NYSE:ONON) have received an average rating of “Moderate Buy” from the twenty-one analysts that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $49.74.

Several equities analysts recently commented on the company. Telsey Advisory Group restated an “outperform” rating and set a $47.00 target price on shares of ON in a research report on Tuesday, August 13th. KeyCorp lifted their price objective on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Piper Sandler upped their target price on shares of ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Morgan Stanley lifted their price target on shares of ON from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Stifel Nicolaus upped their price objective on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th.

Institutional Trading of ON

Institutional investors have recently bought and sold shares of the business. William Blair Investment Management LLC bought a new stake in shares of ON in the 1st quarter valued at about $121,712,000. Price T Rowe Associates Inc. MD lifted its holdings in ON by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock worth $98,636,000 after acquiring an additional 14,674 shares in the last quarter. 1832 Asset Management L.P. grew its stake in ON by 66,838.9% in the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock valued at $93,500,000 after acquiring an additional 2,406,200 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of ON by 30.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,224,894 shares of the company’s stock worth $78,717,000 after acquiring an additional 516,478 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of ON during the first quarter worth about $65,898,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Price Performance

Shares of ON stock opened at $48.15 on Tuesday. The company’s fifty day moving average price is $47.04 and its two-hundred day moving average price is $40.66. The firm has a market capitalization of $30.32 billion, a PE ratio of 109.43 and a beta of 2.24. ON has a 52-week low of $24.15 and a 52-week high of $52.80.

ON (NYSE:ONON) last posted its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The business had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. Analysts predict that ON will post 0.76 earnings per share for the current fiscal year.

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.