Traders Buy High Volume of ON Call Options (NYSE:ONON)

On Holding AG (NYSE:ONON) was the target of unusually large options trading on Tuesday. Traders bought 36,354 call options on the company. This represents an increase of approximately 110% compared to the typical volume of 17,290 call options.

Hedge Funds Weigh In On ON

A number of institutional investors and hedge funds have recently bought and sold shares of the company. VisionPoint Advisory Group LLC acquired a new position in ON in the 4th quarter valued at approximately $32,000. Orion Capital Management LLC increased its holdings in ON by 1,100.0% in the fourth quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock valued at $32,000 after purchasing an additional 1,100 shares during the period. Global Wealth Management Investment Advisory Inc. bought a new position in ON during the 4th quarter worth $33,000. WD Rutherford LLC acquired a new position in ON during the 1st quarter worth about $52,000. Finally, Asset Dedication LLC lifted its holdings in ON by 25.8% during the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after buying an additional 327 shares during the period. Institutional investors and hedge funds own 33.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ONON. Telsey Advisory Group restated an “outperform” rating and issued a $47.00 price target on shares of ON in a research note on Tuesday. KeyCorp raised their target price on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. William Blair started coverage on shares of ON in a report on Tuesday, April 16th. They issued an “outperform” rating on the stock. Finally, Truist Financial restated a “buy” rating and set a $46.00 price objective on shares of ON in a report on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.67.

ON Stock Up 7.2 %

Shares of ONON stock traded up $2.85 on Tuesday, reaching $42.40. The company had a trading volume of 13,860,762 shares, compared to its average volume of 5,219,021. The business’s 50-day moving average is $39.63 and its 200 day moving average is $35.53. ON has a one year low of $23.41 and a one year high of $44.30. The stock has a market capitalization of $26.70 billion, a PE ratio of 96.61, a price-to-earnings-growth ratio of 1.18 and a beta of 2.22.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.12 by $0.20. The business had revenue of $581.41 million during the quarter, compared to the consensus estimate of $555.52 million. ON had a net margin of 6.46% and a return on equity of 11.13%. On average, sell-side analysts forecast that ON will post 0.78 earnings per share for the current fiscal year.

ON Company Profile

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.