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

Shares of On Holding AG (NYSE:ONON) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $54.33.

A number of equities research analysts have commented on ONON shares. UBS Group raised their target price on ON from $61.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird boosted their price objective on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday. HSBC started coverage on shares of ON in a report on Thursday, September 5th. They set a “hold” rating and a $52.00 target price for the company. Truist Financial increased their price target on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Evercore ISI raised ON to an “overweight” rating and upped their target price for the company from $43.00 to $47.00 in a research note on Monday, August 12th.

Institutional Investors Weigh In On ON

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC grew its holdings in shares of ON by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock worth $924,000 after purchasing an additional 300 shares during the period. Capital Advisors Inc. OK increased its position in shares of ON by 5.1% in the third quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock worth $310,000 after acquiring an additional 301 shares in the last quarter. Artemis Investment Management LLP lifted its holdings 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 acquiring an additional 302 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in ON by 3.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after purchasing an additional 325 shares during the period. Finally, Asset Dedication LLC increased its holdings in ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares in the last quarter. 33.11% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

Shares of ON stock opened at $51.92 on Friday. The company has a market cap of $32.69 billion, a P/E ratio of 120.74 and a beta of 2.25. The firm has a fifty day moving average of $49.56 and a two-hundred day moving average of $43.17. ON has a one year low of $25.78 and a one year high of $56.44.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The firm had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. ON had a net margin of 5.87% and a return on equity of 11.02%. As a group, equities analysts predict that ON will post 0.75 earnings per share for the current year.

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.