Brokerages Set On Holding AG (NYSE:ONON) PT at $59.36

Shares of On Holding AG (NYSE:ONON) have been given a consensus rating of “Moderate Buy” by the twenty-four brokerages that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $59.73.

Several equities analysts have commented on the company. Piper Sandler upped their price target on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Robert W. Baird raised their target price on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Raymond James upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 target price on shares of ON in a research note on Wednesday, January 15th. Finally, TD Cowen raised their price target on shares of ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th.

ON Stock Performance

NYSE:ONON opened at $63.16 on Thursday. The firm’s 50-day moving average is $57.21 and its 200-day moving average is $50.12. The company has a market cap of $39.77 billion, a price-to-earnings ratio of 146.88, a PEG ratio of 1.19 and a beta of 2.30. ON has a 52-week low of $26.22 and a 52-week high of $63.80.

Hedge Funds Weigh In On ON

Large investors have recently modified their holdings of the stock. Private Trust Co. NA bought a new position in ON in the 3rd quarter worth approximately $26,000. Blue Trust Inc. increased its stake in shares of ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after buying an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in shares of ON during the third quarter valued at $29,000. Finally, Strategic Financial Concepts LLC bought a new position in ON in the fourth quarter valued at about $30,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.