ON (NYSE:ONON) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

On Holding AG (NYSE:ONON) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $36.59 and traded as high as $39.09. ON shares last traded at $38.52, with a volume of 15,782,934 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ONON shares. Bank of America dropped their price target on shares of ON from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, September 17th. Capital One Financial set a $28.00 price objective on shares of ON in a report on Tuesday, September 8th. Raymond James Financial increased their price objective on shares of ON from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, October 16th. Weiss Ratings raised shares of ON from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of ON in a report on Thursday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ON has a consensus rating of “Moderate Buy” and an average target price of $43.73.

ON Stock Performance

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 $23.85 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 0.70 and a beta of 2.05. The stock’s fifty day simple moving average is $31.50 and its 200-day simple moving average is $36.51.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%. The business’s revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS. Analysts predict that On Holding AG will post 1.50 EPS for the current year.

Insider Activity at ON

In other news, CEO Caspar Coppetti purchased 65,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average price of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the purchase, the chief executive officer directly owned 2,440,855 shares of the company’s stock, valued at $74,861,022.85. The trade was a 2.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Olivier Bernhard purchased 65,000 shares of the stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the acquisition, the insider directly owned 5,228,184 shares in the company, valued at $160,348,403.28. This represents a 1.26% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 68.57% of the stock is owned by company insiders.

Institutional Trading of ON

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of ON by 5,181.2% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 845 shares of the company’s stock worth $25,000 after acquiring an additional 829 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of 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 acquiring an additional 312 shares during the period. Ascentis Independent Advisors acquired a new position in shares of ON during the first quarter worth about $34,000. Guardian Partners Inc. purchased a new position in ON during the third quarter worth about $41,000. Finally, Signaturefd LLC raised its holdings in ON by 29.5% during the third quarter. Signaturefd LLC now owns 1,598 shares of the company’s stock worth $47,000 after purchasing an additional 364 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company serves athletes and everyday consumers with products designed for running, training, outdoor activities and lifestyle use.

On is best known for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and the Speedboard propulsion system. Its product portfolio also includes athletic clothing, outerwear and accessories.