On Holding AG (NYSE:ONON) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of On Holding AG (NYSE:ONON) have been assigned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, fifteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $53.7895.

ONON has been the subject of several recent analyst reports. Barclays lowered their price target on ON from $57.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Wall Street Zen raised shares of ON from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Raymond James Financial upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 target price for the company in a report on Thursday, April 23rd. Guggenheim reaffirmed a “buy” rating and set a $51.00 price target on shares of ON in a research report on Wednesday, May 13th. Finally, Needham & Company LLC cut their price target on shares of ON from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th.

Insider Activity at ON

In other news, CEO David Michael Allemann acquired 60,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the acquisition, the chief executive officer directly owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. This represents a 2.16% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Olivier Bernhard bought 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the transaction, the insider directly owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. This trade represents a 1.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 180,000 shares of company stock valued at $6,594,000 and sold 12,450 shares valued at $441,352. Company insiders own 68.57% of the company’s stock.

Hedge Funds Weigh In On ON

Several hedge funds and other institutional investors have recently modified their holdings of ONON. Caitlin John LLC acquired a new stake in ON during the 4th quarter worth approximately $25,000. Cullen Frost Bankers Inc. lifted its position in ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after buying an additional 467 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in ON during the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd grew its stake in ON by 555.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after buying an additional 594 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in ON by 69.6% during the first quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after buying an additional 312 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Trading Down 0.7%

Shares of ON stock opened at $36.35 on Thursday. ON has a fifty-two week low of $31.41 and a fifty-two week high of $54.72. The business’s fifty day moving average is $37.25 and its two-hundred day moving average is $40.51. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. The firm has a market cap of $23.20 billion, a PE ratio of 39.09, a P/E/G ratio of 0.67 and a beta of 2.12.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $0.21 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. Analysts anticipate that ON will post 1.52 earnings per share for the current year.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.