572,854 On Holding AG $ONON Shares Purchased by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. grew its holdings in shares of On Holding AG (NYSE:ONON) by 159.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 931,031 shares of the company’s stock after acquiring an additional 572,854 shares during the quarter. Eurizon Capital SGR S.p.A. owned about 0.15% of ON worth $27,568,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in shares of ON by 69.6% during the first quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $26,000 after purchasing an additional 312 shares in the last quarter. Signaturefd LLC grew its position in ON by 29.5% in the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the company’s stock valued at $47,000 after buying an additional 364 shares in the last quarter. City Center Advisors LLC grew its position in ON by 5.2% in the 3rd quarter. City Center Advisors LLC now owns 8,675 shares of the company’s stock valued at $257,000 after buying an additional 429 shares in the last quarter. Glenmede Trust Co. NA grew its position in ON by 6.1% in the 1st quarter. Glenmede Trust Co. NA now owns 7,592 shares of the company’s stock valued at $258,000 after buying an additional 439 shares in the last quarter. Finally, Lido Advisors LLC increased its stake in ON by 1.6% during the 3rd quarter. Lido Advisors LLC now owns 29,063 shares of the company’s stock valued at $861,000 after buying an additional 459 shares during the period. Institutional investors own 36.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ONON. William Blair downgraded shares of ON from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 11th. Citigroup reiterated a “buy” rating on shares of ON in a report on Wednesday, September 23rd. Wolfe Research started coverage on shares of ON in a research note on Wednesday, October 21st. They set an “outperform” rating and a $47.00 price objective on the stock. UBS Group dropped their target price on ON from $73.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, KeyCorp upped their target price on ON from $37.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.33.

ON Price Performance

NYSE:ONON opened at $33.67 on Friday. The company has a quick ratio of 2.25, a current ratio of 3.11 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $32.15 and its 200 day moving average price is $36.23. On Holding AG has a 52-week low of $26.36 and a 52-week high of $51.08. The firm has a market cap of $21.49 billion, a P/E ratio of 20.17, a PEG ratio of 0.64 and a beta of 2.05.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, November 10th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.18. ON had a net margin of 12.41% and a return on equity of 22.45%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm posted $0.43 EPS. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. As a group, sell-side analysts predict that On Holding AG will post 1.50 earnings per share for the current fiscal year.

About ON

On Holding AG, which trades on the New York Stock Exchange under the symbol ONON, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. Its products serve runners and other athletes, as well as consumers seeking athletic-inspired everyday wear. The company is known for its running shoes, which feature its CloudTec cushioning technology. On also offers apparel and equipment for activities including running, training and outdoor sports, selling through wholesale partners and its own retail and online channels.