On Holding AG (NYSE:ONON) Receives $46.89 Consensus PT from Analysts

On Holding AG (NYSE:ONON) has received an average rating of “Moderate Buy” from the twenty-three research firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $47.30.

A number of research firms have issued reports on ONON. The Goldman Sachs Group increased their target price on shares of ON from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. KeyCorp lifted their price objective on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $47.00 target price on shares of ON in a research report on Tuesday, August 13th. Barclays lifted their price target on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Evercore ISI raised ON to an “overweight” rating and boosted their price target for the company from $43.00 to $47.00 in a research note on Monday, August 12th.

Institutional Investors Weigh In On ON

Several hedge funds and other institutional investors have recently modified their holdings of ONON. William Blair Investment Management LLC acquired a new stake in ON during the first quarter worth about $121,712,000. 1832 Asset Management L.P. grew its holdings in shares of ON by 36.2% during the 4th quarter. 1832 Asset Management L.P. now owns 3,160,000 shares of the company’s stock worth $85,225,000 after purchasing an additional 840,600 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of ON by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock valued at $98,636,000 after purchasing an additional 14,674 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of ON by 30.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,224,894 shares of the company’s stock valued at $78,717,000 after purchasing an additional 516,478 shares in the last quarter. Finally, Norges Bank bought a new position in ON in the fourth quarter worth $57,916,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Stock Up 0.3 %

Shares of ON stock opened at $50.58 on Friday. The stock has a market cap of $31.85 billion, a PE ratio of 114.96, a price-to-earnings-growth ratio of 1.39 and a beta of 2.24. ON has a 12 month low of $23.41 and a 12 month high of $52.16. The business has a fifty day simple moving average of $43.55 and a 200-day simple moving average of $38.88.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). The business had revenue of $627.66 million for the quarter, compared to analysts’ expectations of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. Analysts expect that ON will post 0.82 EPS for the current fiscal 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.