On Holding AG (NYSE:ONON) Receives Average Rating of “Hold” from Analysts

Shares of On Holding AG (NYSE:ONONGet Rating) have received an average rating of “Hold” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $39.70.

A number of equities research analysts have recently weighed in on ONON shares. Morgan Stanley dropped their target price on ON from $41.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, March 21st. Zacks Investment Research lowered shares of ON from a “hold” rating to a “sell” rating in a research note on Thursday. Telsey Advisory Group dropped their price target on shares of ON from $53.00 to $39.00 and set an “outperform” rating for the company in a research note on Wednesday, March 16th. Berenberg Bank started coverage on shares of ON in a research note on Tuesday, April 19th. They issued a “buy” rating and a $31.00 price objective on the stock. Finally, UBS Group dropped their target price on shares of ON from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, March 21st.

Shares of NYSE:ONON opened at $25.55 on Friday. ON has a 12 month low of $19.75 and a 12 month high of $55.87. The company’s 50-day moving average price is $24.53 and its two-hundred day moving average price is $30.92.

ON (NYSE:ONONGet Rating) last released its quarterly earnings results on Friday, March 18th. The company reported ($0.65) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.04). The firm had revenue of $207.32 million for the quarter, compared to analyst estimates of $195.28 million. Analysts expect that ON will post -0.14 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. boosted its stake in ON by 24.0% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,988 shares of the company’s stock worth $114,000 after purchasing an additional 579 shares during the period. IFP Advisors Inc boosted its position in shares of ON by 61.9% during the fourth quarter. IFP Advisors Inc now owns 1,850 shares of the company’s stock worth $69,000 after buying an additional 707 shares during the period. Citigroup Inc. grew its holdings in shares of ON by 55.0% during the fourth quarter. Citigroup Inc. now owns 2,783 shares of the company’s stock worth $105,000 after buying an additional 988 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in ON in the 3rd quarter valued at approximately $36,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in ON in the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

About ON (Get Rating)

On Holding AG develops and distributes sports products worldwide. It offers athletic footwear, apparel, and accessories. The company offers its products through independent retailers and distributors, online, and stores. On Holding AG was founded in 2010 and is headquartered in Zurich, Switzerland.

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Analyst Recommendations for ON (NYSE:ONON)

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