Pinnacle Associates Ltd. Has $1.31 Million Stock Holdings in On Holding AG (NYSE:ONON)

Pinnacle Associates Ltd. lifted its holdings in On Holding AG (NYSE:ONON) by 165.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,170 shares of the company’s stock after purchasing an additional 16,300 shares during the quarter. Pinnacle Associates Ltd.’s holdings in ON were worth $1,312,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ameritas Advisory Services LLC grew its position in shares of 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 during the period. Artemis Investment Management LLP boosted its position in ON by 1.9% during the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock worth $637,000 after acquiring an additional 302 shares during 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 acquiring an additional 325 shares during the last quarter. Asset Dedication LLC boosted its position 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 acquiring an additional 327 shares during the last quarter. Finally, Sage Capital Advisors llc boosted its position in ON by 0.3% during the 3rd quarter. Sage Capital Advisors llc now owns 99,859 shares of the company’s stock worth $5,008,000 after acquiring an additional 328 shares during the last quarter. 33.11% of the stock is currently owned by institutional investors and hedge funds.

ON Price Performance

ONON stock opened at $46.49 on Friday. The stock has a market capitalization of $29.27 billion, a price-to-earnings ratio of 87.72 and a beta of 2.24. The business’s fifty day moving average price is $48.62 and its two-hundred day moving average price is $41.81. On Holding AG has a fifty-two week low of $24.15 and a fifty-two week high of $52.80.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. Research analysts expect that On Holding AG will post 0.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Piper Sandler upped their price target on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Stifel Nicolaus upped their price target on ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Truist Financial upped their price target on ON from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Evercore ISI upgraded ON to an “overweight” rating and upped their price objective for the stock from $43.00 to $47.00 in a research note on Monday, August 12th. Finally, Raymond James began coverage on ON in a research note on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price objective on the stock. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.74.

ON 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.