Analysts Set On Holding AG (NYSE:ONON) PT at $42.53

Shares of On Holding AG (NYSE:ONON) have been given an average rating of “Moderate Buy” by the twenty brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $42.53.

ONON has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Truist Financial reissued a “buy” rating and issued a $46.00 price objective on shares of ON in a report on Tuesday, June 18th. William Blair assumed coverage on shares of ON in a report on Tuesday, April 16th. They set an “outperform” rating on the stock. Piper Sandler increased their price target on shares of ON from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, Barclays boosted their price objective on shares of ON from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th.

ON Stock Up 1.1 %

NYSE:ONON opened at $37.03 on Friday. The business has a 50 day moving average price of $38.72 and a two-hundred day moving average price of $33.64. The company has a market cap of $23.32 billion, a P/E ratio of 84.16, a price-to-earnings-growth ratio of 1.11 and a beta of 2.22. ON has a twelve month low of $23.41 and a twelve month high of $44.30.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The firm had revenue of $581.41 million for the quarter, compared to analyst estimates of $555.52 million. As a group, analysts anticipate that ON will post 0.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in shares of ON by 74.1% in the third quarter. Envestnet Asset Management Inc. now owns 145,277 shares of the company’s stock valued at $4,042,000 after acquiring an additional 61,845 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of ON during the third quarter worth approximately $615,000. Adage Capital Partners GP L.L.C. bought a new position in shares of ON during the third quarter worth approximately $1,196,000. Graham Capital Management L.P. acquired a new stake in shares of ON in the third quarter valued at approximately $258,000. Finally, American Century Companies Inc. boosted its stake in shares of ON by 109.3% in the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock valued at $182,688,000 after buying an additional 3,428,794 shares during the period. Institutional investors own 33.11% of the company’s stock.

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.