On Holding AG (NYSE:ONON) Stock Has Consensus Target Price of $43.56 According to Brokerages

On Holding AG (NYSE:ONON) has received an average rating of “Moderate Buy” from the thirty-one brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, twenty-three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $43.73.

ONON has been the subject of several recent research reports. Wolfe Research initiated coverage on shares of ON in a report on Wednesday, October 21st. They set an “outperform” rating and a $47.00 target price for the company. Needham & Company LLC upped their price objective on ON from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd. Truist Financial reduced their target price on ON from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Citigroup reiterated a “buy” rating on shares of ON in a report on Wednesday, September 23rd. Finally, Telsey Advisory Group decreased their target price on shares of ON from $51.00 to $43.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th.

ON Price Performance

NYSE ONON opened at $37.37 on Wednesday. ON has a one year low of $26.36 and a one year high of $51.08. The stock has a 50-day moving average of $31.50 and a 200 day moving average of $36.51. The company has a market capitalization of $23.85 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 0.70 and a beta of 2.05. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83.

ON (NYSE:ONON) last issued its earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). ON had a net margin of 12.09% and a return on equity of 22.92%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business posted ($0.09) earnings per share. The company’s quarterly revenue was up 13.5% on a year-over-year basis. On average, sell-side analysts forecast that ON will post 1.50 EPS for the current year.

Insider Activity

In other ON news, CEO Caspar Coppetti acquired 65,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was bought 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 of the company’s stock, valued at approximately $74,861,022.85. This represents a 2.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Olivier Bernhard acquired 65,000 shares of ON stock in a transaction on Friday, August 14th. The stock was purchased 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 ownership of the stock. The SEC filing for this purchase provides additional information. 68.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ON

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in shares of ON by 2.3% in the second quarter. Wellington Management Group LLP now owns 2,751,615 shares of the company’s stock worth $97,462,000 after purchasing an additional 62,404 shares during the period. Quantinno Capital Management LP grew its stake in ON by 89.6% in the 1st quarter. Quantinno Capital Management LP now owns 66,947 shares of the company’s stock valued at $2,278,000 after acquiring an additional 31,641 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in ON during the first quarter valued at $5,694,000. B.A. Schrock Wealth Management Inc. acquired a new stake in ON in the 3rd quarter valued at about $3,991,000. Finally, Handelsbanken Fonder AB acquired a new stake in ON during the second quarter worth approximately $2,851,000. 36.39% of the stock is owned by institutional investors.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company serves athletes and everyday consumers with products designed for running, training, outdoor activities and lifestyle use.

On is best known for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and the Speedboard propulsion system. Its product portfolio also includes athletic clothing, outerwear and accessories.