Handelsbanken Fonder AB bought a new stake in On Holding AG (NYSE:ONON – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 80,500 shares of the company’s stock, valued at approximately $2,851,000.
Several other large investors have also modified their holdings of ONON. Cullen Frost Bankers Inc. lifted its holdings in shares of ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after purchasing an additional 467 shares during the period. Caitlin John LLC acquired a new position in ON in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC increased its stake in ON by 69.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $26,000 after buying an additional 312 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in ON during the 4th quarter worth $27,000. Finally, Caitong International Asset Management Co. Ltd raised its position in ON by 555.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after buying an additional 594 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently weighed in on ONON shares. KeyCorp reaffirmed an “overweight” rating on shares of ON in a report on Monday, August 10th. Stifel Nicolaus dropped their price target on shares of ON from $60.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. JPMorgan Chase & Co. assumed coverage on shares of ON in a report on Thursday, July 2nd. They set an “overweight” rating and a $51.00 price target for the company. Evercore set a $40.00 price objective on shares of ON in a research report on Wednesday. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of ON in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.57.
Key Headlines Impacting ON
Here are the key news stories impacting ON this week:
- Positive Sentiment: The stock’s rebound suggests some investors may view the August 11 selloff as an overreaction. On Holding’s underlying business still delivered year-over-year revenue growth, although the company’s revised guidance remains a concern. On Holding Just Had Its Worst Trading Day Ever
- Neutral Sentiment: Analyst commentary remains divided on On Holding and other consumer-cyclical companies, indicating uncertainty about the company’s growth trajectory, brand demand and expansion across sales channels. Analysts Offer Insights on Consumer Cyclical Companies Analysts Have Conflicting Sentiments
- Negative Sentiment: Telsey Advisory Group lowered its price target to $43, adding to investor concerns about valuation and slower-than-expected growth. Telsey Advisory Group Lowers ON Price Target
- Negative Sentiment: Robert W. Baird and UBS Group also reduced their expectations for ONON, reinforcing a broad analyst reassessment following the earnings report. Robert W. Baird Lowers Expectations UBS Lowers Expectations
- Negative Sentiment: BTIG issued a pessimistic forecast, while William Blair downgraded the stock to Market Perform and Needham issued a similarly cautious outlook. These actions could limit upside in the near term. BTIG Research Forecast William Blair Downgrade Needham Forecast
- Negative Sentiment: The key catalyst behind the analyst cuts was On Holding’s second-quarter earnings miss and trimmed guidance. Shares remain below their 50-day and 200-day moving averages, highlighting continued technical weakness. On Holding Global Brand Demand and Channel Expansion
ON Stock Performance
ONON opened at $32.23 on Monday. On Holding AG has a 1-year low of $30.11 and a 1-year high of $51.08. The stock has a market cap of $20.57 billion, a P/E ratio of 21.93, a P/E/G ratio of 0.64 and a beta of 2.12. The stock’s 50 day simple moving average is $36.82 and its 200 day simple moving average is $38.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25.
ON (NYSE:ONON – Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07). The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%.The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) earnings per share. As a group, equities analysts anticipate that On Holding AG will post 1.51 EPS for the current fiscal year.
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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