On Holding AG (NYSE:ONON) Shares Sold by Prentiss Smith & Co. Inc.

Prentiss Smith & Co. Inc. lowered its stake in shares of On Holding AG (NYSE:ONON) by 1.4% during the fourth quarter, Holdings Channel reports. The firm owned 143,958 shares of the company’s stock after selling 1,993 shares during the period. ON makes up approximately 2.9% of Prentiss Smith & Co. Inc.’s investment portfolio, making the stock its 16th largest position. Prentiss Smith & Co. Inc.’s holdings in ON were worth $3,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. raised its holdings in ON by 20.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,145 shares of the company’s stock worth $60,000 after purchasing an additional 367 shares in the last quarter. Janney Capital Management LLC grew its position in shares of ON by 2.7% during the third quarter. Janney Capital Management LLC now owns 14,450 shares of the company’s stock worth $402,000 after acquiring an additional 384 shares during the last quarter. Pittenger & Anderson Inc. grew its position in shares of ON by 34.8% during the third quarter. Pittenger & Anderson Inc. now owns 1,550 shares of the company’s stock worth $43,000 after acquiring an additional 400 shares during the last quarter. Spire Wealth Management grew its position in shares of ON by 91.0% during the third quarter. Spire Wealth Management now owns 972 shares of the company’s stock worth $27,000 after acquiring an additional 463 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of ON by 63.7% during the third quarter. PNC Financial Services Group Inc. now owns 1,521 shares of the company’s stock worth $42,000 after acquiring an additional 592 shares during the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ONON. Truist Financial raised their target price on shares of ON from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, March 13th. Evercore ISI lowered their target price on shares of ON from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 13th. Redburn Atlantic reiterated a “neutral” rating and issued a $34.00 price objective on shares of ON in a research report on Thursday, March 7th. Barclays initiated coverage on shares of ON in a research report on Monday, April 1st. They issued an “overweight” rating and a $38.00 price objective on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price objective on shares of ON in a research report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and a consensus target price of $37.13.

ON Stock Performance

ON stock traded down $0.44 during midday trading on Thursday, reaching $31.92. The company’s stock had a trading volume of 1,758,440 shares, compared to its average volume of 5,215,988. On Holding AG has a fifty-two week low of $23.41 and a fifty-two week high of $37.08. The stock’s 50 day simple moving average is $33.18 and its 200 day simple moving average is $29.52. The firm has a market capitalization of $20.10 billion, a PE ratio of 118.30, a P/E/G ratio of 1.14 and a beta of 2.16.

ON (NYSE:ONON) last released its earnings results on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). ON had a net margin of 4.04% and a return on equity of 6.85%. The business had revenue of $504.69 million during the quarter, compared to analyst estimates of $515.30 million. Equities analysts predict that On Holding AG will post 0.65 earnings per share for the current year.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.