Janney Montgomery Scott LLC Reduces Stock Holdings in On Holding AG $ONON

Janney Montgomery Scott LLC decreased its stake in On Holding AG (NYSE:ONON) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,924 shares of the company’s stock after selling 897 shares during the quarter. Janney Montgomery Scott LLC’s holdings in ON were worth $1,141,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. WD Rutherford LLC bought a new stake in shares of ON during the 2nd quarter worth approximately $73,000. Public Employees Retirement System of Ohio grew its holdings in shares of ON by 106.6% in the second quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock worth $3,570,000 after purchasing an additional 35,391 shares during the last quarter. Compagnie Lombard Odier SCmA grew its holdings in shares of ON by 63.8% in the second quarter. Compagnie Lombard Odier SCmA now owns 5,493 shares of the company’s stock worth $286,000 after purchasing an additional 2,140 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of ON in the second quarter worth about $259,000. Finally, Toth Financial Advisory Corp grew its holdings in shares of ON by 91.3% in the second quarter. Toth Financial Advisory Corp now owns 14,250 shares of the company’s stock worth $742,000 after purchasing an additional 6,800 shares during the last quarter. 36.39% of the stock is owned by institutional investors.

ON Trading Up 2.7%

ONON opened at $42.97 on Tuesday. The firm has a market cap of $27.06 billion, a price-to-earnings ratio of 95.49, a PEG ratio of 5.20 and a beta of 2.19. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. On Holding AG has a 12 month low of $34.59 and a 12 month high of $64.05. The stock has a fifty day moving average price of $44.52 and a 200-day moving average price of $48.71.

Analyst Ratings Changes

ONON has been the topic of a number of research analyst reports. Raymond James Financial cut shares of ON from a “strong-buy” rating to an “outperform” rating and set a $66.00 price target on the stock. in a report on Tuesday, July 22nd. Needham & Company LLC restated a “buy” rating and issued a $62.00 price target on shares of ON in a report on Tuesday, August 12th. Morgan Stanley upped their price target on shares of ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 target price on shares of ON in a research report on Thursday, August 7th. Finally, UBS Group lifted their target price on ON from $75.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.20.

ON Company Profile

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.