ON (NYSE:ONON) Sets New 1-Year Low – Time to Sell?

On Holding AG (NYSE:ONON)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $30.11 and last traded at $30.8750, with a volume of 9164567 shares traded. The stock had previously closed at $38.78.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Evercore reissued an “outperform” rating and issued a $46.00 price target on shares of ON in a report on Friday. JPMorgan Chase & Co. initiated coverage on ON in a report on Thursday, July 2nd. They set an “overweight” rating and a $51.00 price objective on the stock. Guggenheim reaffirmed a “buy” rating and issued a $51.00 target price on shares of ON in a research report on Wednesday, May 13th. Truist Financial reduced their target price on ON from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, KeyCorp reissued an “overweight” rating on shares of ON in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.84.

ON Trading Down 18.8%

The stock has a market cap of $20.09 billion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 0.69 and a beta of 2.12. The firm’s 50 day moving average is $37.31 and its two-hundred day moving average is $38.91. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26.

ON (NYSE:ONON) last issued its earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.ON’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. Equities analysts anticipate that On Holding AG will post 1.52 EPS for the current year.

Insider Transactions at ON

In related news, CEO Caspar Felix Coppetti purchased 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the acquisition, the chief executive officer owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This trade represents a 2.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Olivier Bernhard purchased 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the acquisition, the insider owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. The trade was a 1.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 180,000 shares of company stock worth $6,594,000.

Institutional Investors Weigh In On ON

Hedge funds have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB bought a new position in shares of ON during the second quarter worth about $2,851,000. Gradient Investments LLC increased its holdings in shares of ON by 14.0% in the 2nd quarter. Gradient Investments LLC now owns 64,799 shares of the company’s stock worth $2,295,000 after acquiring an additional 7,934 shares during the period. Red Spruce Capital LLC lifted its position in ON by 40.9% in the 2nd quarter. Red Spruce Capital LLC now owns 60,114 shares of the company’s stock valued at $2,129,000 after purchasing an additional 17,445 shares during the last quarter. City Center Advisors LLC lifted its position in ON by 8.1% in the 2nd quarter. City Center Advisors LLC now owns 8,246 shares of the company’s stock valued at $292,000 after purchasing an additional 619 shares during the last quarter. Finally, PVG Asset Management Corp boosted its stake in ON by 5.4% during the 2nd quarter. PVG Asset Management Corp now owns 9,341 shares of the company’s stock valued at $331,000 after purchasing an additional 480 shares during the period. 36.39% of the stock is currently owned by institutional investors.

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.