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

Shares of On Holding AG (NYSE:ONON) have been assigned an average rating of “Moderate Buy” from the twenty-four brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, eighteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $59.4762.

Several equities analysts have recently commented on the company. Weiss Ratings restated a “sell (d+)” rating on shares of ON in a research report on Thursday, January 22nd. Telsey Advisory Group reissued an “outperform” rating and set a $65.00 target price on shares of ON in a research note on Tuesday, March 3rd. KeyCorp reissued an “overweight” rating on shares of ON in a report on Wednesday, March 4th. Evercore set a $58.00 price target on ON and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Finally, UBS Group reiterated a “buy” rating on shares of ON in a research report on Thursday, February 19th.

ON Trading Up 6.0%

Shares of ON stock opened at $39.91 on Tuesday. ON has a fifty-two week low of $34.38 and a fifty-two week high of $61.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.71. The company has a market capitalization of $25.47 billion, a P/E ratio of 55.44, a P/E/G ratio of 0.75 and a beta of 2.14. The company has a fifty day moving average of $44.11 and a 200 day moving average of $43.91.

Institutional Trading of ON

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. lifted its stake in ON by 639.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after purchasing an additional 467 shares in the last quarter. Caitlin John LLC bought a new stake in shares of ON in the fourth quarter worth about $25,000. MidAtlantic Capital Management Inc. bought a new stake in shares of ON in the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its position in shares of ON by 555.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after buying an additional 594 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its position in shares of ON by 109.9% in the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after buying an additional 421 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors.

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.