On Holding AG $ONON Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers grew its holdings in On Holding AG (NYSE:ONON) by 3.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 50,046 shares of the company’s stock after acquiring an additional 1,742 shares during the quarter. Cetera Investment Advisers’ holdings in ON were worth $2,605,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its position in shares of ON by 106.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock worth $3,570,000 after buying an additional 35,391 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in ON by 36.8% in the first quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company’s stock valued at $494,000 after acquiring an additional 3,025 shares during the last quarter. Red Spruce Capital LLC boosted its stake in ON by 64.8% in the second quarter. Red Spruce Capital LLC now owns 35,566 shares of the company’s stock valued at $1,851,000 after acquiring an additional 13,980 shares in the last quarter. Citigroup Inc. grew its holdings in shares of ON by 73.1% during the first quarter. Citigroup Inc. now owns 213,127 shares of the company’s stock worth $9,361,000 after purchasing an additional 89,982 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new stake in shares of ON during the second quarter worth about $43,344,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Upgrades and Downgrades

ONON has been the subject of a number of research analyst reports. Telsey Advisory Group reissued an “outperform” rating and issued a $65.00 target price on shares of ON in a research report on Thursday, November 13th. Piper Sandler increased their price objective on ON from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday. BTIG Research reaffirmed a “buy” rating and issued a $70.00 target price on shares of ON in a report on Tuesday, November 4th. UBS Group upped their price target on shares of ON from $79.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Morgan Stanley raised their price objective on shares of ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.38.

ON Stock Performance

NYSE:ONON opened at $44.09 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. The firm has a market cap of $27.68 billion, a price-to-earnings ratio of 57.25, a price-to-earnings-growth ratio of 2.53 and a beta of 2.18. The firm’s fifty day moving average price is $41.33 and its 200 day moving average price is $47.72. On Holding AG has a 1-year low of $34.38 and a 1-year high of $64.05.

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.