Eleva Capital SAS Purchases New Holdings in On Holding AG $ONON

Eleva Capital SAS purchased a new stake in On Holding AG (NYSE:ONON) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 19,738 shares of the company’s stock, valued at approximately $1,027,000. ON accounts for approximately 0.2% of Eleva Capital SAS’s holdings, making the stock its 25th largest holding.

Several other institutional investors have also made changes to their positions in ONON. Public Employees Retirement System of Ohio lifted its stake in ON by 106.6% during the second quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock worth $3,570,000 after purchasing an additional 35,391 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in ON by 36.8% during the first quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company’s stock worth $494,000 after purchasing an additional 3,025 shares during the last quarter. Citigroup Inc. lifted its stake in ON by 73.1% during the first quarter. Citigroup Inc. now owns 213,127 shares of the company’s stock worth $9,361,000 after purchasing an additional 89,982 shares during the last quarter. Red Spruce Capital LLC lifted its stake in ON by 64.8% during the second quarter. Red Spruce Capital LLC now owns 35,566 shares of the company’s stock worth $1,851,000 after purchasing an additional 13,980 shares during the last quarter. Finally, Bessemer Group Inc. bought a new stake in ON during the second quarter worth $43,344,000. 36.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ONON. Citigroup cut ON from a “buy” rating to a “mixed” rating in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and set a $62.00 target price on shares of ON in a research note on Tuesday, August 12th. Jefferies Financial Group set a $40.00 target price on ON and gave the stock an “underperform” rating in a research note on Wednesday, August 13th. Zacks Research cut ON from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.75.

ON Stock Performance

NYSE ONON opened at $37.18 on Friday. The company has a market capitalization of $23.41 billion, a price-to-earnings ratio of 82.62, a PEG ratio of 4.62 and a beta of 2.19. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The stock has a fifty day simple moving average of $43.16 and a 200 day simple moving average of $48.62. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.35). The company had revenue of $944.29 million during the quarter, compared to analyst estimates of $707.74 million. ON had a net margin of 4.45% and a return on equity of 8.75%. The business’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 earnings per share. ON has set its FY 2025 guidance at EPS. Sell-side analysts expect that On Holding AG will post 0.66 EPS for the current year.

ON 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.