ON (NYSE:ONON) Reaches New 1-Year Low – Should You Sell?

On Holding AG (NYSE:ONON) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $28.55 and last traded at $28.8170, with a volume of 10005589 shares traded. The stock had previously closed at $29.51.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ONON shares. Jefferies Financial Group set a $20.00 price objective on ON in a research report on Tuesday, August 11th. Telsey Advisory Group decreased their price target on shares of ON from $51.00 to $43.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. Barclays lowered their price target on shares of ON from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, August 12th. The Goldman Sachs Group set a $42.00 price objective on shares of ON in a research report on Wednesday, August 12th. Finally, Robert W. Baird reduced their price objective on shares of ON from $70.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.57.

ON Price Performance

The stock has a 50 day moving average of $35.33 and a 200-day moving average of $37.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83. The company has a market cap of $18.51 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 0.59 and a beta of 2.12.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). ON had a net margin of 12.09% and a return on equity of 22.92%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the firm posted ($0.09) EPS. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities analysts predict that On Holding AG will post 1.47 earnings per share for the current year.

Insider Activity at ON

In other ON news, insider Olivier Bernhard acquired 65,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the purchase, the insider owned 5,228,184 shares in the company, valued at approximately $160,348,403.28. The trade was a 1.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Caspar Felix Coppetti acquired 65,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the acquisition, the chief executive officer directly owned 2,440,855 shares in the company, valued at approximately $74,861,022.85. The trade was a 2.74% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 68.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Cullen Frost Bankers Inc. boosted its holdings in ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after purchasing an additional 467 shares during the last quarter. Caitlin John LLC acquired a new position in shares of ON in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of ON by 69.6% in the first quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after buying an additional 312 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of ON in the fourth quarter worth about $27,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in ON by 555.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after acquiring an additional 594 shares during the period. Hedge funds and other institutional investors own 36.39% of the company’s stock.

About ON

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.