First Dallas Securities Inc. Cuts Stock Holdings in On Holding AG (NYSE:ONON)

First Dallas Securities Inc. lowered its holdings in On Holding AG (NYSE:ONON) by 11.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,100 shares of the company’s stock after selling 3,050 shares during the period. First Dallas Securities Inc.’s holdings in ON were worth $853,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. VisionPoint Advisory Group LLC purchased a new position in ON in the fourth quarter worth $32,000. Orion Capital Management LLC lifted its position in shares of ON by 1,100.0% during the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock valued at $32,000 after buying an additional 1,100 shares during the last quarter. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of ON during the 4th quarter valued at $33,000. WD Rutherford LLC purchased a new position in shares of ON during the 1st quarter valued at $52,000. Finally, Spire Wealth Management lifted its position in shares of ON by 66.2% during the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock valued at $45,000 after buying an additional 643 shares during the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ONON. Stifel Nicolaus reaffirmed a “buy” rating and set a $41.00 price target on shares of ON in a research report on Thursday, May 16th. JPMorgan Chase & Co. boosted their price objective on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. TD Cowen boosted their price objective on ON from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Barclays boosted their price objective on ON from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Finally, Telsey Advisory Group boosted their price objective on ON from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

ON Stock Down 0.6 %

Shares of ON stock traded down $0.23 during trading on Friday, hitting $38.80. 7,246,963 shares of the stock traded hands, compared to its average volume of 4,472,952. The stock has a market cap of $24.43 billion, a price-to-earnings ratio of 88.18, a PEG ratio of 1.15 and a beta of 2.27. The firm’s fifty day moving average is $37.82 and its 200-day moving average is $33.17. On Holding AG has a 52 week low of $23.41 and a 52 week high of $44.30.

ON (NYSE:ONON) last issued its earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.20. The company had revenue of $581.41 million during the quarter, compared to analysts’ expectations of $555.52 million. ON had a return on equity of 11.13% and a net margin of 6.46%. On average, analysts forecast that On Holding AG will post 0.78 earnings per share for the current fiscal year.

ON Company Profile

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.