On Holding AG $ONON Stake Boosted by Impax Asset Management Group plc

Impax Asset Management Group plc lifted its stake in shares of On Holding AG (NYSE:ONON) by 38.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,175 shares of the company’s stock after purchasing an additional 14,233 shares during the quarter. Impax Asset Management Group plc’s holdings in ON were worth $2,664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in ONON. Public Employees Retirement System of Ohio boosted its holdings in shares of ON by 106.6% during the second quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock valued at $3,570,000 after acquiring an additional 35,391 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of ON by 36.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company’s stock worth $494,000 after acquiring an additional 3,025 shares during the period. Citigroup Inc. lifted its position in ON by 73.1% in the 1st quarter. Citigroup Inc. now owns 213,127 shares of the company’s stock valued at $9,361,000 after purchasing an additional 89,982 shares during the last quarter. Red Spruce Capital LLC boosted its stake in ON by 64.8% during the 2nd quarter. Red Spruce Capital LLC now owns 35,566 shares of the company’s stock valued at $1,851,000 after purchasing an additional 13,980 shares during the period. Finally, Bessemer Group Inc. bought a new position in ON in the 2nd quarter worth about $43,344,000. Institutional investors own 36.39% of the company’s stock.

ON Stock Up 2.1%

Shares of ONON stock opened at $42.39 on Friday. On Holding AG has a 1 year low of $34.38 and a 1 year high of $64.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. The business’s fifty day moving average is $41.69 and its 200-day moving average is $48.21. The stock has a market cap of $26.69 billion, a PE ratio of 55.05, a price-to-earnings-growth 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) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.35). The firm had revenue of $944.29 million during the quarter, compared to analyst estimates of $707.74 million. ON had a net margin of 7.45% and a return on equity of 15.47%. The company’s quarterly revenue was up 32.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. Equities analysts expect that On Holding AG will post 0.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ONON shares. JPMorgan Chase & Co. lifted their price target on ON from $71.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday. Bank of America raised their target price on ON from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday. Raymond James Financial reduced their price target on ON from $66.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, October 21st. UBS Group increased their price target on ON from $79.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Zacks Research upgraded shares of ON from a “strong sell” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.14.

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.