On Holding AG (NYSE:ONON) Stock Has Consensus Price Target of $43.17

Shares of On Holding AG (NYSE:ONON) have been assigned an average recommendation of “Moderate Buy” from the twenty-eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $43.17.

ONON has been the subject of several research reports. Stifel Nicolaus decreased their target price on ON from $60.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Robert W. Baird dropped their price target on ON from $70.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th. UBS Group restated a “buy” rating on shares of ON in a research report on Wednesday, September 23rd. Needham & Company LLC upped their price target on ON from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, September 23rd. Finally, Berenberg Bank set a $38.00 price objective on ON in a report on Monday, September 14th.

ON Trading Up 0.6%

NYSE ONON opened at $35.31 on Friday. ON has a 1-year low of $26.36 and a 1-year high of $51.08. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average of $30.54 and a 200-day moving average of $34.44. The firm has a market cap of $22.53 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 0.69 and a beta of 2.08.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.09) earnings per share. As a group, sell-side analysts forecast that ON will post 1.51 EPS for the current year.

Insiders Place Their Bets

In other ON news, insider Olivier Bernhard bought 65,000 shares of ON stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the insider directly owned 5,228,184 shares of the company’s stock, valued at $160,348,403.28. This represents a 1.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Caspar Coppetti purchased 65,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the purchase, the chief executive officer owned 2,440,855 shares in the company, valued at $74,861,022.85. This represents a 2.74% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Institutional Investors Weigh In On ON

Several hedge funds have recently bought and sold shares of ONON. Platinum Paramount Investment LTD. purchased a new stake in shares of ON during the fourth quarter valued at approximately $525,784,000. SG Americas Securities LLC increased its position in shares of ON by 489.8% during the first quarter. SG Americas Securities LLC now owns 880,329 shares of the company’s stock valued at $29,949,000 after acquiring an additional 731,067 shares in the last quarter. Bamco Inc. NY raised its holdings in ON by 13.9% in the 4th quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock worth $251,247,000 after acquiring an additional 658,933 shares during the last quarter. Ogborne Capital Management LLC raised its holdings in ON by 34.2% in the 4th quarter. Ogborne Capital Management LLC now owns 845,549 shares of the company’s stock worth $39,301,000 after acquiring an additional 215,549 shares during the last quarter. Finally, APEIRON CAPITAL Ltd raised its holdings in ON by 25.2% in the 1st quarter. APEIRON CAPITAL Ltd now owns 996,052 shares of the company’s stock worth $33,886,000 after acquiring an additional 200,200 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

ON Company Profile

On Holding AG, trading on the New York Stock Exchange under the symbol ONON, is a Swiss sportswear company focused on performance footwear, apparel and accessories. The company serves athletes and active consumers with products designed for running, training, outdoor activities and everyday wear.

On is best known for its running shoes, which incorporate the company’s CloudTec cushioning technology and distinctive sole designs. Its product portfolio also includes athletic clothing, apparel and accessories, with offerings positioned across both performance and lifestyle categories.