On Holding AG (NYSE:ONON) Receives Average Rating of “Buy” from Brokerages

On Holding AG (NYSE:ONON) has been given a consensus rating of “Buy” by the twenty-four research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, twenty have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $62.45.

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of ON from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 14th. UBS Group set a $75.00 target price on shares of ON in a research report on Wednesday, May 14th. Hsbc Global Res upgraded shares of ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Piper Sandler reiterated an “overweight” rating on shares of ON in a research report on Tuesday, May 13th. Finally, Williams Trading lifted their target price on shares of ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th.

Institutional Trading of ON

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in ON during the 4th quarter valued at $164,574,000. Jennison Associates LLC boosted its holdings in ON by 136.6% during the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock valued at $212,943,000 after acquiring an additional 2,798,794 shares during the period. Alliancebernstein L.P. boosted its holdings in ON by 13.9% during the 1st quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after acquiring an additional 2,416,534 shares during the period. Nuveen LLC purchased a new position in ON during the 1st quarter valued at $102,850,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in ON during the 4th quarter valued at $78,799,000. Institutional investors own 36.39% of the company’s stock.

ON Stock Up 3.6%

Shares of ON stock opened at $60.54 on Wednesday. The company has a market capitalization of $38.12 billion, a price-to-earnings ratio of 140.79, a PEG ratio of 1.02 and a beta of 2.30. ON has a 12-month low of $34.59 and a 12-month high of $64.05. The firm’s 50-day moving average price is $47.93 and its two-hundred day moving average price is $52.25.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.