Cerity Partners LLC Makes New Investment in On Holding AG (NYSE:ONON)

Cerity Partners LLC purchased a new position in shares of On Holding AG (NYSE:ONON) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 241,760 shares of the company’s stock, valued at approximately $6,520,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Durable Capital Partners LP boosted its holdings in ON by 114.5% in the 1st quarter. Durable Capital Partners LP now owns 11,028,390 shares of the company’s stock valued at $278,357,000 after purchasing an additional 5,887,034 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in ON by 25.2% in the second quarter. Macquarie Group Ltd. now owns 8,289,119 shares of the company’s stock valued at $146,635,000 after acquiring an additional 1,670,574 shares during the last quarter. Jennison Associates LLC increased its stake in ON by 7.6% during the third quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock worth $219,416,000 after acquiring an additional 554,513 shares during the last quarter. American Century Companies Inc. increased its stake in ON by 109.3% during the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock worth $182,688,000 after acquiring an additional 3,428,794 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of ON by 4.8% in the 1st quarter. Capital Research Global Investors now owns 4,233,780 shares of the company’s stock valued at $106,861,000 after purchasing an additional 195,301 shares during the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ONON shares. Truist Financial raised their price objective on ON from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, March 13th. Piper Sandler boosted their price target on shares of ON from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $37.00 price objective on shares of ON in a research report on Wednesday, March 6th. Redburn Atlantic reissued a “neutral” rating and issued a $34.00 target price on shares of ON in a research report on Thursday, March 7th. Finally, Barclays assumed coverage on ON in a research report on Monday, April 1st. They set an “overweight” rating and a $38.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.13.

ON Price Performance

Shares of NYSE ONON opened at $32.21 on Tuesday. On Holding AG has a 1 year low of $23.41 and a 1 year high of $37.08. The company has a market capitalization of $20.28 billion, a price-to-earnings ratio of 119.30, a price-to-earnings-growth ratio of 1.28 and a beta of 2.16. The business has a 50-day moving average of $32.74 and a two-hundred day moving average of $29.21.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.18). The company had revenue of $504.69 million during the quarter, compared to analysts’ expectations of $515.30 million. ON had a net margin of 4.04% and a return on equity of 6.85%. As a group, equities research analysts expect that On Holding AG will post 0.67 earnings per share 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.