On Holding AG (NYSE:ONON) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of On Holding AG (NYSE:ONON) have been assigned a consensus rating of “Moderate Buy” from the twenty-six research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has given a hold rating, nineteen have issued a buy rating and four have assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $61.2727.

ONON has been the subject of several analyst reports. Truist Financial reduced their price objective on ON from $69.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Needham & Company LLC dropped their target price on ON from $62.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. JPMorgan Chase & Co. increased their price target on ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. UBS Group lifted their price objective 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, Singular Research upgraded shares of ON to a “strong-buy” rating in a research note on Monday, November 17th.

ON Price Performance

Shares of NYSE:ONON opened at $48.73 on Friday. ON has a 12 month low of $34.38 and a 12 month high of $64.05. The firm has a market capitalization of $30.60 billion, a P/E ratio of 63.29, a P/E/G ratio of 2.89 and a beta of 2.16. 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 company’s fifty day moving average price is $42.08 and its 200 day moving average price is $46.82.

Hedge Funds Weigh In On ON

Institutional investors and hedge funds have 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% in the second quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock valued at $3,570,000 after acquiring an additional 35,391 shares in the last quarter. Red Spruce Capital LLC raised its stake in ON by 64.8% in the 2nd quarter. Red Spruce Capital LLC now owns 35,566 shares of the company’s stock valued at $1,851,000 after purchasing an additional 13,980 shares during the last quarter. Citigroup Inc. lifted its holdings in ON by 73.1% in the 1st quarter. Citigroup Inc. now owns 213,127 shares of the company’s stock valued at $9,361,000 after purchasing an additional 89,982 shares in the last quarter. Norges Bank acquired a new stake in shares of ON during the 2nd quarter worth about $138,641,000. Finally, Bessemer Group Inc. acquired a new stake in shares of ON during the 2nd quarter worth about $43,344,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

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.