J.W. Cole Advisors Inc. Makes New Investment in On Holding AG (NYSE:ONON)

J.W. Cole Advisors Inc. acquired a new position in shares of On Holding AG (NYSE:ONON) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,355 shares of the company’s stock, valued at approximately $360,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ONON. Spire Wealth Management lifted its position in shares of ON by 91.0% during the third quarter. Spire Wealth Management now owns 972 shares of the company’s stock worth $27,000 after purchasing an additional 463 shares during the last quarter. Asset Dedication LLC bought a new stake in shares of ON during the third quarter worth $35,000. Signaturefd LLC lifted its position in shares of ON by 816.7% during the third quarter. Signaturefd LLC now owns 1,375 shares of the company’s stock worth $38,000 after purchasing an additional 1,225 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of ON by 63.7% during the third quarter. PNC Financial Services Group Inc. now owns 1,521 shares of the company’s stock worth $42,000 after purchasing an additional 592 shares during the last quarter. Finally, Pittenger & Anderson Inc. lifted its position in shares of ON by 34.8% during the third quarter. Pittenger & Anderson Inc. now owns 1,550 shares of the company’s stock worth $43,000 after purchasing an additional 400 shares during the last quarter. 33.11% of the stock is owned by hedge funds and other institutional investors.

ON Stock Down 0.6 %

Shares of NYSE ONON opened at $32.35 on Thursday. The business’s 50 day moving average price is $33.17 and its 200 day moving average price is $29.50. The firm has a market cap of $20.37 billion, a P/E ratio of 119.81, a P/E/G ratio of 1.14 and a beta of 2.16. On Holding AG has a 52 week low of $23.41 and a 52 week high of $37.08.

ON (NYSE:ONON) last issued its earnings results on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The firm 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, research analysts expect that On Holding AG will post 0.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ONON. Stifel Nicolaus restated a “buy” rating and issued a $40.00 price objective on shares of ON in a report on Tuesday, March 5th. Truist Financial lifted their price objective on ON from $29.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, March 13th. Evercore ISI decreased their price objective on ON from $40.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, March 13th. Redburn Atlantic restated a “neutral” rating and issued a $34.00 price objective on shares of ON in a report on Thursday, March 7th. Finally, William Blair began coverage on ON in a report on Tuesday, April 16th. They issued an “outperform” rating for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.13.

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.