On Holding AG (NYSE:ONON) Receives $53.79 Average Target Price from Analysts

by · The Markets Daily

Shares of On Holding AG (NYSE:ONON – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the twenty-two research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $53.6316.

A number of analysts recently issued reports on the stock. Telsey Advisory Group lowered their price target on shares of ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings raised shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Needham & Company LLC decreased their price objective on shares of ON from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Wall Street Zen cut ON from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, UBS Group cut their price target on ON from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday.

Check Out Our Latest Stock Analysis on ON

Insider Buying and Selling at ON

In other ON news, CEO Caspar Felix Coppetti acquired 60,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,375,855 shares of the company’s stock, valued at $87,051,327.20. This represents a 2.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Michael Allemann purchased 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the purchase, 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 position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 180,000 shares of company stock valued at $6,594,000.

Institutional Trading of ON

Institutional investors have recently modified their holdings of the stock. Bison Wealth LLC increased its stake in shares of ON by 35.7% during the fourth quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after purchasing an additional 2,442 shares in the last quarter. Prudential Financial Inc. purchased a new position in ON in the 2nd quarter valued at about $517,000. Invesco Ltd. lifted its stake in ON by 305.5% in the 2nd quarter. Invesco Ltd. now owns 157,281 shares of the company’s stock valued at $8,186,000 after buying an additional 118,498 shares in the last quarter. Cresset Asset Management LLC lifted its stake in ON by 13.5% in the 2nd quarter. Cresset Asset Management LLC now owns 7,232 shares of the company’s stock valued at $376,000 after buying an additional 860 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in ON by 91.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,661 shares of the company’s stock worth $139,000 after buying an additional 1,273 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Trading Up 0.3%

Shares of NYSE:ONON opened at $36.34 on Monday. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. ON has a 12-month low of $31.41 and a 12-month high of $52.20. The business has a 50 day moving average of $37.56 and a two-hundred day moving average of $39.23. The company has a market capitalization of $23.19 billion, a PE ratio of 39.07, a PEG ratio of 0.68 and a beta of 2.12.

ON (NYSE:ONON – Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. As a group, analysts forecast that ON will post 1.5 EPS for the current year.

ON Company Profile

(Get Free Report)

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.

Featured Stories