On Holding AG (NYSE:ONON) Receives Consensus Rating of “Moderate Buy” from Brokerages

On Holding AG (NYSE:ONON) has been given a consensus rating of “Moderate Buy” by the twenty-two analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, fifteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $55.0526.

Several brokerages have recently commented on ONON. KeyCorp lowered their price objective on shares of ON from $58.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Evercore set a $42.00 price target on shares of ON in a research report on Tuesday, May 12th. Guggenheim reiterated a “buy” rating and set a $51.00 price target on shares of ON in a research report on Wednesday, May 13th. Stifel Nicolaus set a $58.00 price target on shares of ON in a research report on Tuesday, March 3rd. Finally, Raymond James Financial upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a research report on Thursday, April 23rd.

ON Stock Performance

Shares of NYSE:ONON opened at $37.21 on Wednesday. The company has a market cap of $23.75 billion, a price-to-earnings ratio of 40.01, a price-to-earnings-growth ratio of 0.75 and a beta of 2.09. The company has a 50-day moving average price of $36.24 and a 200-day moving average price of $41.79. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. ON has a 12 month low of $31.41 and a 12 month high of $61.29.

Insider Activity at ON

In related news, CEO David Michael Allemann purchased 60,000 shares of ON stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,841,108 shares of the company’s stock, valued at $104,069,786.04. This represents a 2.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Caspar Felix Coppetti purchased 60,000 shares of ON stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $36.64 per share, for a total transaction of $2,198,400.00. Following the transaction, the chief executive officer directly owned 2,375,855 shares of the company’s stock, valued at $87,051,327.20. This trade represents a 2.59% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838. 68.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On ON

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley grew its holdings in ON by 40.9% in the fourth quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock worth $1,121,092,000 after purchasing an additional 6,997,455 shares during the period. Platinum Paramount Investment LTD. purchased a new stake in ON in the fourth quarter worth about $525,784,000. Sinvest Investments II Ltd. purchased a new stake in ON in the fourth quarter worth about $390,432,000. Sands Capital Management LLC grew its holdings in ON by 46.7% in the third quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock worth $286,685,000 after purchasing an additional 2,155,083 shares during the period. Finally, Bamco Inc. NY grew its holdings in ON by 13.9% in the fourth quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock worth $251,247,000 after purchasing an additional 658,933 shares during the period. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.