First Dallas Securities Inc. Trims Stock Holdings in On Holding AG (NYSE:ONON)

First Dallas Securities Inc. decreased its position in On Holding AG (NYSE:ONON) by 11.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,100 shares of the company’s stock after selling 3,050 shares during the period. First Dallas Securities Inc.’s holdings in ON were worth $853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC raised its stake in shares of ON by 1,100.0% during the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock valued at $32,000 after buying an additional 1,100 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new position in shares of ON during the 4th quarter valued at about $32,000. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of ON during the 4th quarter valued at about $33,000. Spire Wealth Management raised its stake in shares of ON by 66.2% during the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock valued at $45,000 after buying an additional 643 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new position in shares of ON during the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. TheStreet cut ON from a “c” rating to a “d+” rating in a research report on Monday, March 18th. Barclays raised their target price on ON from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Truist Financial restated a “buy” rating and set a $46.00 target price on shares of ON in a research report on Tuesday, June 18th. Piper Sandler raised their target price on ON from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Finally, Needham & Company LLC raised their target price on ON from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

ON Stock Down 0.6 %

Shares of ON stock traded down $0.23 on Friday, hitting $38.80. 7,246,963 shares of the company were exchanged, compared to its average volume of 4,472,952. The stock has a market capitalization of $24.43 billion, a price-to-earnings ratio of 88.18, a price-to-earnings-growth ratio of 1.15 and a beta of 2.27. The company has a 50-day moving average price of $37.82 and a 200 day moving average price of $33.17. On Holding AG has a 1-year low of $23.41 and a 1-year high of $44.30.

ON (NYSE:ONON) last announced its earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.20. The company had revenue of $581.41 million for the quarter, compared to analyst estimates of $555.52 million. ON had a return on equity of 11.13% and a net margin of 6.46%. Research analysts forecast that On Holding AG will post 0.78 EPS 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.