On Holding AG $ONON Stake Cut by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its position in shares of On Holding AG (NYSE:ONON) by 12.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,286 shares of the company’s stock after selling 1,626 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in ON were worth $587,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ONON. Bison Wealth LLC lifted its stake in ON by 35.7% during the fourth quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after purchasing an additional 2,442 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in ON by 241.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 63,930 shares of the company’s stock worth $2,808,000 after purchasing an additional 45,223 shares during the last quarter. APEIRON CAPITAL Ltd lifted its stake in ON by 35.9% during the first quarter. APEIRON CAPITAL Ltd now owns 999,125 shares of the company’s stock worth $43,882,000 after purchasing an additional 264,000 shares during the last quarter. Harbour Capital Advisors LLC bought a new position in ON during the first quarter worth $237,000. Finally, Aurora Private Wealth Inc. bought a new position in ON during the first quarter worth $591,000. 36.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ONON. Zacks Research lowered ON from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Jefferies Financial Group set a $40.00 target price on ON and gave the stock an “underperform” rating in a research report on Wednesday, August 13th. TD Cowen dropped their target price on ON from $63.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a research report on Wednesday, October 8th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $65.00 target price on shares of ON in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and an average target price of $63.10.

ON Price Performance

Shares of ONON opened at $42.94 on Wednesday. The firm has a market capitalization of $27.04 billion, a price-to-earnings ratio of 95.43, a price-to-earnings-growth ratio of 5.15 and a beta of 2.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The stock’s fifty day moving average is $43.96 and its 200-day moving average is $48.67.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.35). The business had revenue of $944.29 million for the quarter, compared to analyst estimates of $707.74 million. ON had a net margin of 4.45% and a return on equity of 8.75%. ON’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same period last year, the business posted $0.14 earnings per share. ON has set its FY 2025 guidance at EPS. Equities analysts anticipate that On Holding AG will post 0.66 EPS for the current year.

ON 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.