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

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

ONON has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. JPMorgan Chase & Co. initiated coverage on shares of ON in a research report on Thursday, July 2nd. They issued an “overweight” rating and a $51.00 price target for the company. Needham & Company LLC reduced their target price 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. Truist Financial cut their price objective on ON from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Finally, Guggenheim reiterated a “buy” rating and set a $51.00 target price on shares of ON in a research report on Wednesday, May 13th.

ON Stock Down 1.0%

NYSE:ONON traded down $0.36 during trading hours on Thursday, hitting $36.51. 766,774 shares of the stock traded hands, compared to its average volume of 6,028,695. ON has a fifty-two week low of $31.41 and a fifty-two week high of $54.72. The firm has a market cap of $23.29 billion, a price-to-earnings ratio of 39.26, a PEG ratio of 0.68 and a beta of 2.12. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average price of $37.23 and a 200 day moving average price of $40.68.

ON (NYSE:ONON) last issued its earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share 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 company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. Equities research analysts anticipate that ON will post 1.5 earnings per share for the current year.

Insider Buying and Selling at ON

In related news, insider Olivier Bernhard bought 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the purchase, the insider owned 5,163,184 shares of the company’s stock, valued at $189,127,429.92. This represents a 1.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Michael Allemann purchased 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,841,108 shares in the company, valued at $104,069,786.04. This trade represents a 2.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 180,000 shares of company stock worth $6,594,000 and have sold 12,450 shares worth $441,352.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONON. Cullen Frost Bankers Inc. lifted its stake in ON by 639.7% in 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. Caitlin John LLC bought a new position in ON in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its holdings 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 last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of ON in the 4th quarter valued at about $27,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in ON by 555.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after buying an additional 594 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Company Profile

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.