ON (NYSE:ONON) Reaches New 1-Year High – Time to Buy?

On Holding AG (NYSE:ONON)’s stock price hit a new 52-week high on Monday . The company traded as high as $59.19 and last traded at $59.01, with a volume of 968066 shares traded. The stock had previously closed at $58.33.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler upped their target price on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. TD Cowen upped their price target on ON from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Robert W. Baird upped their price target on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Raymond James upgraded ON from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $58.00 to $63.00 in a report on Thursday, November 21st. Finally, Stifel Nicolaus upped their price target on ON from $45.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.05.

ON Trading Up 0.7 %

The firm has a fifty day simple moving average of $51.16 and a two-hundred day simple moving average of $44.97. The stock has a market cap of $36.97 billion, a PE ratio of 135.65 and a beta of 2.25.

Institutional Trading of ON

Institutional investors and hedge funds have recently modified their holdings of the business. Private Trust Co. NA purchased a new stake in shares of ON in the 3rd quarter valued at about $26,000. Blue Trust Inc. increased its position in shares of ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of ON during the 3rd quarter valued at about $29,000. Finally, Quarry LP bought a new position in shares of ON during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

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.