On Holding AG (NYSE:ONON) Given Average Recommendation of “Moderate Buy” by Brokerages

On Holding AG (NYSE:ONON) has earned a consensus rating of “Moderate Buy” from the twenty ratings firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $43.22.

Several research firms have recently issued reports on ONON. TD Cowen upped their price objective on shares of ON from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Barclays raised their price target on shares of ON from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. KeyCorp boosted their price objective on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Truist Financial restated a “buy” rating and issued a $46.00 target price on shares of ON in a research note on Tuesday, June 18th. Finally, Evercore ISI boosted their price target on ON from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th.

Institutional Trading of ON

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC lifted its holdings in ON by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock valued at $924,000 after purchasing an additional 300 shares in the last quarter. Artemis Investment Management LLP raised its holdings in ON by 1.9% in 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 during the last quarter. Crossmark Global Holdings Inc. lifted its stake in ON by 3.2% in 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 in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of ON by 20.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,145 shares of the company’s stock worth $60,000 after purchasing an additional 367 shares during the last quarter. Finally, Janney Capital Management LLC grew its position in shares of ON by 3.1% in the fourth quarter. Janney Capital Management LLC now owns 14,893 shares of the company’s stock valued at $402,000 after purchasing an additional 443 shares in the last quarter. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

ON Stock Performance

NYSE:ONON opened at $37.26 on Thursday. The stock has a market capitalization of $23.46 billion, a P/E ratio of 84.64, a P/E/G ratio of 1.18 and a beta of 2.22. The company’s 50-day simple moving average is $40.03 and its 200-day simple moving average is $35.06. ON has a fifty-two week low of $23.41 and a fifty-two week high of $44.30.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.20. The business had revenue of $581.41 million for the quarter, compared to the consensus estimate of $555.52 million. ON had a return on equity of 11.13% and a net margin of 6.46%. On average, research analysts forecast that ON 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.