On Holding AG (NYSE:ONON) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers reduced its stake in On Holding AG (NYSE:ONON) by 14.7% in the second quarter, HoldingsChannel reports. The fund owned 25,301 shares of the company’s stock after selling 4,375 shares during the quarter. Cetera Investment Advisers’ holdings in ON were worth $982,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of ON during the second quarter valued at approximately $32,000. WD Rutherford LLC acquired a new stake in shares of ON during the first quarter valued at approximately $52,000. Asset Dedication LLC raised its holdings in shares of ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after acquiring an additional 327 shares during the period. Orion Capital Management LLC raised its holdings in shares of ON by 106.7% during the first quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock valued at $88,000 after acquiring an additional 1,280 shares during the period. Finally, National Bank of Canada FI raised its holdings in shares of ON by 24.0% during the second quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after acquiring an additional 500 shares during the period. 33.11% of the stock is owned by institutional investors and hedge funds.

ON Stock Down 2.0 %

ONON stock opened at $48.15 on Friday. On Holding AG has a twelve month low of $24.15 and a twelve month high of $52.80. The firm has a market capitalization of $30.32 billion, a PE ratio of 109.43 and a beta of 2.24. The stock has a 50-day simple moving average of $47.22 and a two-hundred day simple moving average of $40.71.

ON (NYSE:ONON) last announced 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). ON had a net margin of 7.42% and a return on equity of 13.02%. The company had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. On average, equities research analysts anticipate that On Holding AG will post 0.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on ONON. Stifel Nicolaus boosted their target price on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Morgan Stanley boosted their target price on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. Truist Financial boosted their target price on shares of ON from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, TD Cowen boosted their target price on shares of ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.74.

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.