Whittier Trust Co. of Nevada Inc. Purchases 53,537 Shares of On Holding AG $ONON

Whittier Trust Co. of Nevada Inc. raised its position in On Holding AG (NYSE:ONON) by 430.6% in the second quarter, HoldingsChannel reports. The fund owned 65,971 shares of the company’s stock after purchasing an additional 53,537 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in ON were worth $3,433,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Ramirez Asset Management Inc. increased its position in shares of ON by 20.0% during the second quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock worth $62,000 after acquiring an additional 200 shares in the last quarter. CWM LLC lifted its holdings in shares of ON by 22.2% in the first quarter. CWM LLC now owns 1,259 shares of the company’s stock valued at $55,000 after purchasing an additional 229 shares in the last quarter. Sterling Investment Counsel LLC lifted its holdings in shares of ON by 5.5% in the second quarter. Sterling Investment Counsel LLC now owns 5,750 shares of the company’s stock valued at $299,000 after purchasing an additional 300 shares in the last quarter. TCTC Holdings LLC lifted its holdings in shares of ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock valued at $26,000 after purchasing an additional 315 shares in the last quarter. Finally, Wesbanco Bank Inc. lifted its holdings in shares of ON by 0.6% in the second quarter. Wesbanco Bank Inc. now owns 69,303 shares of the company’s stock valued at $3,607,000 after purchasing an additional 421 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. Zacks Research lowered ON from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Morgan Stanley raised their target price on ON from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. TD Cowen reduced their price objective on shares of ON from $63.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Finally, Barclays upped their price objective on shares of ON from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.10.

ON Trading Up 3.5%

NYSE ONON opened at $42.94 on Wednesday. The stock has a market capitalization of $27.04 billion, a price-to-earnings ratio of 95.43, a PEG ratio of 5.15 and a beta of 2.19. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. The business’s fifty day moving average is $43.96 and its 200-day moving average is $48.67.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 12th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.35). The business had revenue of $944.29 million for the quarter, compared to the consensus estimate of $707.74 million. ON had a return on equity of 8.75% and a net margin of 4.45%.The company’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 earnings per share. ON has set its FY 2025 guidance at EPS. Equities research analysts predict that On Holding AG will post 0.66 EPS for the current year.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.