On Holding AG (NYSE:ONON) Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC lessened its stake in shares of On Holding AG (NYSE:ONON) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,689 shares of the company’s stock after selling 555 shares during the quarter. Janney Capital Management LLC’s holdings in ON were worth $687,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONON. Blair William & Co. IL bought a new position in shares of ON during the 1st quarter valued at about $502,000. Janney Montgomery Scott LLC increased its holdings in shares of ON by 1,011.8% in the first quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock valued at $3,686,000 after buying an additional 94,814 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of ON during the 1st quarter valued at $8,094,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of ON by 100.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after acquiring an additional 642,894 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new position in shares of ON in the 1st quarter worth $521,000. Institutional investors own 33.11% of the company’s stock.

Wall Street Analysts Forecast Growth

ONON has been the topic of a number of analyst reports. Evercore ISI raised ON to an “overweight” rating and lifted their price target for the stock from $43.00 to $47.00 in a research note on Monday, August 12th. KeyCorp upped their price target on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Hsbc Global Res upgraded shares of ON to a “hold” rating in a research report on Thursday, September 5th. Telsey Advisory Group restated an “outperform” rating and issued a $47.00 target price on shares of ON in a report on Tuesday, August 13th. Finally, Raymond James assumed coverage on ON in a report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.74.

ON Stock Performance

NYSE:ONON opened at $46.50 on Monday. The firm’s 50-day moving average is $48.66 and its 200-day moving average is $42.03. The company has a market cap of $29.28 billion, a price-to-earnings ratio of 87.74 and a beta of 2.25. On Holding AG has a 52-week low of $24.15 and a 52-week high of $52.80.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The firm had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. Equities analysts predict that On Holding AG will post 0.76 EPS for the current 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.