California First Leasing Corp Increases Position in On Holding AG (NYSE:ONON)

California First Leasing Corp raised its holdings in shares of On Holding AG (NYSE:ONON) by 112.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,200 shares of the company’s stock after buying an additional 19,200 shares during the period. California First Leasing Corp’s holdings in ON were worth $976,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ONON. Asset Management One Co. Ltd. boosted its holdings in shares of ON by 20.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,145 shares of the company’s stock valued at $60,000 after purchasing an additional 367 shares during the period. Janney Capital Management LLC boosted its holdings in shares of ON by 2.7% in the third quarter. Janney Capital Management LLC now owns 14,450 shares of the company’s stock valued at $402,000 after purchasing an additional 384 shares during the period. Pittenger & Anderson Inc. boosted its holdings in shares of ON by 34.8% in the third quarter. Pittenger & Anderson Inc. now owns 1,550 shares of the company’s stock valued at $43,000 after purchasing an additional 400 shares during the period. Spire Wealth Management boosted its holdings in shares of ON by 91.0% in the third quarter. Spire Wealth Management now owns 972 shares of the company’s stock valued at $27,000 after purchasing an additional 463 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of ON by 63.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,521 shares of the company’s stock valued at $42,000 after purchasing an additional 592 shares during the period. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Trading Up 2.7 %

Shares of ONON stock traded up $0.85 during trading hours on Friday, reaching $32.79. 2,087,756 shares of the company’s stock were exchanged, compared to its average volume of 5,177,378. The stock’s 50 day moving average is $33.17 and its 200-day moving average is $29.54. The company has a market cap of $20.65 billion, a price-to-earnings ratio of 121.44, a P/E/G ratio of 1.13 and a beta of 2.16. On Holding AG has a fifty-two week low of $23.41 and a fifty-two week high of $37.08.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ONON shares. Piper Sandler boosted their price target on ON from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Morgan Stanley restated an “overweight” rating and set a $32.00 target price on shares of ON in a report on Monday. Truist Financial upped their target price on ON from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, March 13th. William Blair began coverage on ON in a report on Tuesday, April 16th. They set an “outperform” rating for the company. Finally, Redburn Atlantic restated a “neutral” rating and set a $34.00 target price on shares of ON in a report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.13.

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.