Oppenheimer Asset Management Inc. Makes New Investment in On Holding AG $ONON

Oppenheimer Asset Management Inc. purchased a new position in On Holding AG (NYSE:ONON) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,756 shares of the company’s stock, valued at approximately $300,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Washington Trust Advisors Inc. purchased a new position in ON in the 2nd quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of ON by 13.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 3,482 shares of the company’s stock worth $181,000 after acquiring an additional 410 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of ON by 1.0% in the second quarter. Asset Management One Co. Ltd. now owns 24,939 shares of the company’s stock worth $1,298,000 after acquiring an additional 243 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its stake in shares of ON by 1.9% in the second quarter. Cookson Peirce & Co. Inc. now owns 279,851 shares of the company’s stock worth $14,566,000 after acquiring an additional 5,117 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of ON by 430.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 65,971 shares of the company’s stock worth $3,433,000 after acquiring an additional 53,537 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Raymond James Financial decreased their price target on shares of ON from $66.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, October 21st. Zacks Research downgraded shares of ON from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. The Goldman Sachs Group set a $50.00 price target on shares of ON in a research report on Monday, October 27th. Finally, TD Cowen decreased their price target on shares of ON from $63.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.75.

ON Stock Performance

ON stock opened at $37.18 on Monday. The company has a market cap of $23.41 billion, a PE ratio of 82.62, a P/E/G ratio of 4.62 and a beta of 2.18. The company has a fifty day moving average price of $43.16 and a two-hundred day moving average price of $48.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. On Holding AG has a 12 month low of $34.59 and a 12 month high of $64.05.

ON (NYSE:ONON) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $707.74 million. ON had a return on equity of 8.75% and a net margin of 4.45%.The business’s revenue for the quarter was up 32.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 EPS. ON has set its FY 2025 guidance at EPS. Research analysts expect that On Holding AG will post 0.66 earnings per share 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.