ON (NYSE:ONON) Shares Gap Down – Time to Sell?

On Holding AG (NYSE:ONON)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $44.92, but opened at $37.50. ON shares last traded at $38.71, with a volume of 5,225,822 shares.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. KeyCorp restated an “overweight” rating and issued a $68.00 price target on shares of ON in a report on Wednesday, March 5th. Jefferies Financial Group assumed coverage on ON in a report on Tuesday. They set a “hold” rating and a $44.00 target price for the company. Needham & Company LLC cut their price target on ON from $64.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday. Stifel Nicolaus boosted their price target on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Bank of America assumed coverage on ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.45.

ON Stock Up 5.1 %

The stock has a market cap of $24.91 billion, a PE ratio of 92.00, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. The stock has a 50-day moving average of $50.36 and a 200 day moving average of $52.40.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ONON. Strategic Financial Concepts LLC acquired a new stake in ON during the 4th quarter worth about $30,000. Park Square Financial Group LLC acquired a new stake in ON during the fourth quarter worth about $32,000. MassMutual Private Wealth & Trust FSB purchased a new position in ON during the first quarter valued at approximately $32,000. Legacy Bridge LLC purchased a new position in ON during the fourth quarter valued at approximately $43,000. Finally, Bernard Wealth Management Corp. purchased a new stake in ON in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.