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

On Holding AG (NYSE:ONON) has received a consensus rating of “Moderate Buy” from the twenty-four analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, seventeen have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $59.8636.

A number of research firms have issued reports on ONON. BTIG Research restated a “buy” rating and set a $70.00 price target on shares of ON in a report on Thursday, January 29th. Piper Sandler reissued an “overweight” rating on shares of ON in a research note on Friday, December 5th. The Goldman Sachs Group boosted their target price on ON from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. Guggenheim upgraded shares of ON to a “strong-buy” rating in a research note on Wednesday, December 10th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of ON in a research note on Tuesday.

Institutional Trading of ON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jacobi Capital Management LLC grew its holdings in ON by 3.6% during the fourth quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock worth $320,000 after buying an additional 240 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in ON by 1.0% during the 2nd 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 during the last quarter. Lido Advisors LLC grew its stake in shares of ON by 1.2% in the 2nd quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock worth $1,236,000 after acquiring an additional 285 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of ON by 2.8% in the fourth quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock valued at $486,000 after purchasing an additional 285 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in shares of ON by 2.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock valued at $571,000 after purchasing an additional 285 shares during the last quarter. 36.39% of the stock is owned by institutional investors.

ON Stock Up 2.0%

Shares of ON stock opened at $47.58 on Friday. The stock’s 50-day moving average is $46.45 and its 200 day moving average is $44.48. ON has a one year low of $34.38 and a one year high of $61.29. The firm has a market cap of $29.88 billion, a price-to-earnings ratio of 61.79, a PEG ratio of 1.40 and a beta of 2.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.