On Holding AG (NYSE:ONON) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of On Holding AG (NYSE:ONON) have been given an average recommendation of “Moderate Buy” by the twenty-eight analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, twenty have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $43.17.

A number of research analysts have commented on the company. William Blair lowered ON from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 11th. BTIG Research reissued a “buy” rating and set a $60.00 target price on shares of ON in a report on Wednesday, September 23rd. Stifel Nicolaus dropped their target price on ON from $60.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Williams Trading set a $32.00 target price on shares of ON in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of ON from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th.

ON Price Performance

ON stock opened at $35.45 on Friday. ON has a 12 month low of $26.36 and a 12 month high of $51.08. The stock’s 50 day moving average is $30.44 and its 200-day moving average is $34.47. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $22.62 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 0.70 and a beta of 2.08.

ON (NYSE:ONON) last announced its earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%. ON’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. Equities research analysts expect that ON will post 1.51 EPS for the current year.

Insider Transactions at ON

In other ON news, CEO Caspar Coppetti acquired 65,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $30.67 per share, for a total transaction of $1,993,550.00. Following the purchase, the chief executive officer directly owned 2,440,855 shares of the company’s stock, valued at $74,861,022.85. This trade represents a 2.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Olivier Bernhard acquired 65,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the purchase, the insider directly owned 5,228,184 shares in the company, valued at approximately $160,348,403.28. This represents a 1.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 68.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its stake in shares of ON by 69.6% in the first quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $26,000 after buying an additional 312 shares during the period. Ascentis Independent Advisors acquired a new stake in ON during the first quarter worth approximately $34,000. World Investment Advisors acquired a new stake in ON during the fourth quarter worth approximately $207,000. State of Wyoming increased its stake in ON by 132.6% during the 1st quarter. State of Wyoming now owns 4,508 shares of the company’s stock worth $153,000 after acquiring an additional 2,570 shares during the period. Finally, J. Derek Lewis & Associates Inc. bought a new position in ON during the 4th quarter worth $212,000. 36.39% of the stock is owned by institutional investors.

About ON

On Holding AG, trading on the New York Stock Exchange under the symbol ONON, is a Swiss sportswear company focused on performance footwear, apparel and accessories. The company serves athletes and active consumers with products designed for running, training, outdoor activities and everyday wear.

On is best known for its running shoes, which incorporate the company’s CloudTec cushioning technology and distinctive sole designs. Its product portfolio also includes athletic clothing, apparel and accessories, with offerings positioned across both performance and lifestyle categories.