On Holding AG (NYSE:ONON) Receives $42.53 Average PT from Brokerages

Shares of On Holding AG (NYSE:ONON) have been given an average rating of “Moderate Buy” by the twenty ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $42.53.

ONON has been the subject of several recent research reports. Morgan Stanley restated an “overweight” rating and issued a $40.00 price target on shares of ON in a research report on Friday, June 21st. Evercore ISI increased their price objective on shares of ON from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Sanford C. Bernstein initiated coverage on shares of ON in a research report on Tuesday, June 11th. They set an “outperform” rating and a $50.00 price objective for the company. TD Cowen increased their price objective on shares of ON from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its stake in shares of ON by 4.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock valued at $46,076,000 after buying an additional 76,746 shares in the last quarter. Rheos Capital Works Inc. bought a new position in shares of ON in the first quarter valued at $10,614,000. Wellington Management Group LLP bought a new position in shares of ON in the fourth quarter valued at $34,420,000. Janney Montgomery Scott LLC lifted its stake in shares of ON by 1,011.8% in the first quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock valued at $3,686,000 after buying an additional 94,814 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of ON by 127.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 131,585 shares of the company’s stock valued at $3,549,000 after buying an additional 73,839 shares in the last quarter. 33.11% of the stock is owned by institutional investors.

ON Stock Performance

Shares of NYSE ONON opened at $37.51 on Friday. ON has a 52-week low of $23.41 and a 52-week high of $44.30. The firm has a 50 day moving average price of $38.80 and a two-hundred day moving average price of $33.74. The stock has a market cap of $23.62 billion, a P/E ratio of 85.25, a price-to-earnings-growth ratio of 1.10 and a beta of 2.22.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The firm had revenue of $581.41 million during the quarter, compared to analysts’ expectations of $555.52 million. Analysts predict that ON will post 0.78 earnings per share for the current fiscal year.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.