Analysts Set On Holding AG (NYSE:ONON) Price Target at $61.27

Shares of On Holding AG (NYSE:ONON) have been given a consensus rating of “Moderate Buy” by the twenty-six analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, nineteen have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $61.2727.

A number of equities analysts have commented on the stock. Bank of America upped their price objective on shares of ON from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Citigroup lowered shares of ON from a “buy” rating to a “mixed” rating in a research note on Tuesday, October 28th. Evercore ISI cut their price target on shares of ON from $68.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Morgan Stanley raised their price objective on shares of ON from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Finally, UBS Group lifted their price objective on ON from $79.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, November 13th.

ON Price Performance

ON stock opened at $48.51 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. The business has a 50 day simple moving average of $42.51 and a 200-day simple moving average of $46.60. ON has a 12 month low of $34.38 and a 12 month high of $64.05. The stock has a market capitalization of $30.46 billion, a PE ratio of 63.00, a price-to-earnings-growth ratio of 2.85 and a beta of 2.16.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ONON. Ramirez Asset Management Inc. lifted its holdings in ON by 20.0% in the second quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock valued at $62,000 after acquiring an additional 200 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of ON by 1.0% during the 2nd quarter. Asset Management One Co. Ltd. now owns 24,939 shares of the company’s stock worth $1,298,000 after purchasing an additional 243 shares during the period. Lido Advisors LLC increased its holdings in shares of ON by 1.2% in the 2nd quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock valued at $1,236,000 after purchasing an additional 285 shares in the last quarter. Sterling Investment Counsel LLC lifted its stake in shares of ON by 5.5% in the second quarter. Sterling Investment Counsel LLC now owns 5,750 shares of the company’s stock valued at $299,000 after purchasing an additional 300 shares during the period. Finally, Parsons Capital Management Inc. RI lifted its stake in shares of ON by 4.3% in the third quarter. Parsons Capital Management Inc. RI now owns 7,238 shares of the company’s stock valued at $307,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.