Baltimore Washington Financial Advisors Inc. Buys 13,846 Shares of On Holding AG $ONON

Baltimore Washington Financial Advisors Inc. increased its position in On Holding AG (NYSE:ONON) by 4.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 331,457 shares of the company’s stock after acquiring an additional 13,846 shares during the quarter. Baltimore Washington Financial Advisors Inc. owned about 0.05% of ON worth $14,037,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Winslow Capital Management LLC bought a new stake in ON during the second quarter valued at $248,113,000. Sands Capital Management LLC bought a new position in ON in the 2nd quarter worth about $240,177,000. Norges Bank bought a new position in ON in the 2nd quarter worth about $138,641,000. Ameriprise Financial Inc. raised its holdings in shares of ON by 4,564.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock valued at $119,752,000 after acquiring an additional 2,242,480 shares in the last quarter. Finally, State Street Corp increased its stake in ON by 765.4% in the second quarter. State Street Corp now owns 2,219,015 shares of the company’s stock valued at $115,500,000 after acquiring an additional 1,962,586 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ONON. JPMorgan Chase & Co. lifted their price target on ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Telsey Advisory Group reiterated an “outperform” rating and issued a $65.00 price objective on shares of ON in a report on Tuesday. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of ON in a research note on Wednesday. Williams Trading cut ON from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $55.00 to $47.00 in a report on Thursday, January 8th. Finally, Piper Sandler reissued an “overweight” rating on shares of ON in a research report on Friday, December 5th. Two investment 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 issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.41.

ON Trading Down 4.5%

Shares of ONON opened at $41.44 on Friday. The company has a current ratio of 2.71, a quick ratio of 2.05 and a debt-to-equity ratio of 0.27. The company has a market cap of $26.02 billion, a P/E ratio of 57.55, a P/E/G ratio of 0.83 and a beta of 2.14. On Holding AG has a twelve month low of $34.38 and a twelve month high of $61.29. The company’s fifty day simple moving average is $46.07 and its 200-day simple moving average is $44.38.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.26 by $0.06. The company had revenue of $937.29 million for the quarter, compared to the consensus estimate of $727.55 million. ON had a net margin of 6.59% and a return on equity of 13.25%. The firm’s revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. As a group, analysts expect that On Holding AG will post 0.66 EPS for the current year.

ON Company Profile

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.