On Holding AG (NYSE:ONON) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of On Holding AG (NYSE:ONONGet Free Report) have been assigned an average rating of “Moderate Buy” from the twenty-two brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, fifteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $55.0526.

Several research analysts have commented on the company. Stifel Nicolaus set a $58.00 price target on ON in a research note on Tuesday, March 3rd. Barclays decreased their price target on ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Needham & Company LLC decreased their price target on ON from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Truist Financial decreased their price target on ON from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, BTIG Research reissued a “buy” rating and issued a $70.00 price objective on shares of ON in a research report on Tuesday, March 3rd.

View Our Latest Report on ONON

Insiders Place Their Bets

In other news, CEO David Michael Allemann bought 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the transaction, the chief executive officer directly owned 2,841,108 shares of the company’s stock, valued at approximately $104,069,786.04. This represents a 2.16% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Martin Hoffmann sold 4,150 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $35.84, for a total value of $148,736.00. Following the completion of the sale, the chief executive officer directly owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. The trade was a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have purchased 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838. Corporate insiders own 68.57% of the company’s stock.

Institutional Trading of ON

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitlin John LLC purchased a new stake in ON in the 4th quarter valued at $25,000. Cullen Frost Bankers Inc. grew its stake in shares of ON by 639.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after acquiring an additional 467 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of ON in the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of ON by 555.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after purchasing an additional 594 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of ON by 69.6% in the first quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $26,000 after purchasing an additional 312 shares during the last quarter. 36.39% of the stock is owned by institutional investors.

ON Trading Down 1.6%

Shares of ONON stock opened at $38.60 on Friday. The stock’s fifty day moving average price is $36.58 and its two-hundred day moving average price is $41.73. The company has a market cap of $24.63 billion, a PE ratio of 41.51, a P/E/G ratio of 0.75 and a beta of 2.10. ON has a fifty-two week low of $31.41 and a fifty-two week high of $55.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98.

ON (NYSE:ONONGet Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company earned $0.21 EPS. ON’s revenue was up 14.5% compared to the same quarter last year. Equities analysts predict that ON will post 1.47 EPS for the current fiscal year.

About ON

(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.

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Analyst Recommendations for ON (NYSE:ONON)

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