Calamos Advisors LLC Acquires 2,105 Shares of On Holding AG $ONON

Calamos Advisors LLC increased its holdings in shares of On Holding AG (NYSE:ONON) by 5.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,820 shares of the company’s stock after purchasing an additional 2,105 shares during the quarter. Calamos Advisors LLC’s holdings in ON were worth $1,969,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Washington Trust Advisors Inc. acquired a new stake in shares of ON during the second quarter worth $29,000. TCTC Holdings LLC raised its stake in shares of ON by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock valued at $26,000 after purchasing an additional 315 shares during the period. Montag A & Associates Inc. bought a new stake in shares of ON in the first quarter valued at about $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of ON by 3,392.6% in the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock valued at $42,000 after purchasing an additional 916 shares in the last quarter. Finally, Ramirez Asset Management Inc. acquired a new position in shares of ON during the first quarter worth about $44,000. Institutional investors own 36.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ONON shares. Truist Financial cut their target price on ON from $69.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday. Weiss Ratings reiterated a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. Piper Sandler reduced their target price on shares of ON from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Evercore ISI decreased their target price on shares of ON from $68.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Raymond James Financial cut their price target on shares of ON from $66.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.14.

ON Price Performance

Shares of ONON opened at $42.39 on Friday. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $41.69 and its 200 day simple moving average is $48.21. On Holding AG has a 1-year low of $34.38 and a 1-year high of $64.05. The company has a market cap of $26.69 billion, a price-to-earnings ratio of 55.05, a PEG ratio of 5.16 and a beta of 2.18.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.35). The firm had revenue of $944.29 million during the quarter, compared to the consensus estimate of $707.74 million. ON had a net margin of 7.45% and a return on equity of 15.47%. The business’s revenue was up 32.0% on a year-over-year basis. During the same period last year, the business earned $0.14 EPS. On average, research analysts forecast that On Holding AG will post 0.66 earnings per share for the current fiscal 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.