On Holding AG (NYSE:ONON) Receives $50.37 Average Price Target from Brokerages

Shares of On Holding AG (NYSE:ONON) have received a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $50.37.

Several equities research analysts have recently weighed in on ONON shares. Barclays increased their price objective on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Telsey Advisory Group increased their price target on ON from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. KeyCorp boosted their price objective on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Evercore ISI upgraded ON to an “overweight” rating and upped their target price for the company from $43.00 to $47.00 in a research report on Monday, August 12th. Finally, Stifel Nicolaus lifted their target price on ON from $45.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th.

ON Trading Up 2.4 %

Shares of ONON stock opened at $52.71 on Friday. ON has a 1-year low of $24.15 and a 1-year high of $53.72. The stock has a market cap of $33.19 billion, a price-to-earnings ratio of 99.45 and a beta of 2.25. The stock has a 50-day moving average of $48.97 and a 200-day moving average of $42.76.

ON (NYSE:ONON) last released 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 firm had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. Sell-side analysts forecast that ON will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Blair William & Co. IL purchased a new stake in ON in the 1st quarter valued at $502,000. Janney Montgomery Scott LLC lifted its position in shares of ON by 1,011.8% during the first quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock valued at $3,686,000 after purchasing an additional 94,814 shares in the last quarter. Acadian Asset Management LLC purchased a new position in ON during the first quarter worth about $8,094,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in ON by 100.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after purchasing an additional 642,894 shares during the last quarter. Finally, Private Advisor Group LLC bought a new stake in ON in the 1st quarter worth about $521,000. Institutional investors own 33.11% of the company’s stock.

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.