On Holding AG (NYSE:ONON) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of On Holding AG (NYSE:ONON) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $56.05.

Several equities analysts recently issued reports on ONON shares. KeyCorp boosted their target price on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Evercore ISI raised shares of ON to an “overweight” rating and raised their target price for the stock from $43.00 to $47.00 in a research note on Monday, August 12th. BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Wednesday, November 13th. Truist Financial upped their price objective on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $53.00 target price on shares of ON in a research note on Tuesday, November 12th.

ON Price Performance

Shares of ONON opened at $57.64 on Wednesday. The company’s fifty day moving average price is $51.96 and its 200-day moving average price is $45.71. ON has a 1-year low of $25.78 and a 1-year high of $60.12. The firm has a market capitalization of $36.29 billion, a PE ratio of 134.05 and a beta of 2.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ONON. Private Trust Co. NA acquired a new stake in ON during the third quarter worth approximately $26,000. Blue Trust Inc. grew its holdings in shares of ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $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 third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of ON in the 3rd quarter valued at about $29,000. Finally, Quarry LP acquired a new stake in shares of ON in the 2nd quarter valued at about $32,000. 33.11% of the stock is owned by institutional investors and hedge funds.

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.