Shares of On Holding AG (NYSE:ONON – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the twenty-five brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $48.5714.
A number of research firms have commented on ONON. The Goldman Sachs Group set a $42.00 price target on ON in a research note on Wednesday, August 12th. Sanford C. Bernstein restated an “outperform” rating and set a $62.00 price objective on shares of ON in a report on Wednesday, August 12th. Stifel Nicolaus decreased their price objective on shares of ON from $60.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Robert W. Baird lowered their target price on shares of ON from $70.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th. Finally, Needham & Company LLC lowered their target price on shares of ON from $45.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th.
Get Our Latest Stock Analysis on ON
ON Stock Performance
ON (NYSE:ONON – Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). ON had a return on equity of 22.92% and a net margin of 12.09%.The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm earned ($0.09) EPS. The company’s revenue was up 13.5% compared to the same quarter last year. Research analysts expect that ON will post 1.47 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Caspar Felix Coppetti purchased 65,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the acquisition, the chief executive officer owned 2,440,855 shares in the company, valued at approximately $74,861,022.85. This represents a 2.74% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Olivier Bernhard acquired 65,000 shares of the stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the purchase, the insider directly owned 5,228,184 shares of the company’s stock, valued at approximately $160,348,403.28. This trade represents a 1.26% increase in their position. The SEC filing for this purchase provides additional information.
Institutional Trading of ON
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. grew its stake in ON by 44.1% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 18,378 shares of the company’s stock valued at $654,000 after purchasing an additional 5,625 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of ON in the second quarter valued at about $288,000. Headlands Technologies LLC purchased a new position in shares of ON in the second quarter worth about $630,000. Wellington Management Group LLP raised its stake in shares of ON by 2.3% in the second quarter. Wellington Management Group LLP now owns 2,751,615 shares of the company’s stock worth $97,462,000 after purchasing an additional 62,404 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in shares of ON during the second quarter worth about $2,851,000. Institutional investors and hedge funds own 36.39% of the company’s stock.
About ON
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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