Analysts Set On Holding AG (NYSE:ONON) PT at $48.57

On Holding AG (NYSE:ONON) has been given a consensus recommendation of “Moderate Buy” by the twenty-five ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, eighteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $48.5714.

ONON has been the topic of a number of recent research reports. Robert W. Baird reduced their price objective on ON from $70.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. Jefferies Financial Group set a $20.00 target price on ON in a report on Tuesday, August 11th. The Goldman Sachs Group set a $42.00 price target on ON in a research report on Wednesday, August 12th. KeyCorp reaffirmed an “overweight” rating on shares of ON in a research note on Monday, August 10th. Finally, Truist Financial lowered their price objective on ON from $48.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th.

Insider Activity at ON

In other news, insider Olivier Bernhard bought 65,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the acquisition, the insider owned 5,228,184 shares of the company’s stock, valued at approximately $160,348,403.28. This trade represents a 1.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Caspar Felix Coppetti bought 65,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the purchase, the chief executive officer 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 disclosure for this purchase is available in the SEC filing.

Hedge Funds Weigh In On ON

A number of hedge funds have recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its stake in shares of 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 acquiring an additional 467 shares during the last quarter. Caitlin John LLC bought a new stake in shares of ON in the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC increased its holdings in ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $26,000 after purchasing an additional 312 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in ON during the 4th quarter valued at about $27,000. Finally, Caitong International Asset Management Co. Ltd raised its position in ON by 555.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after purchasing an additional 594 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Price Performance

Shares of ON stock opened at $28.82 on Friday. The stock has a market capitalization of $18.39 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 0.60 and a beta of 2.12. The company has a fifty day moving average of $35.70 and a 200-day moving average of $37.77. ON has a 52-week low of $28.55 and a 52-week high of $51.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). ON had a return on equity of 22.92% and a net margin of 12.09%.The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm earned ($0.09) earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts expect that ON will post 1.47 EPS 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.