On Holding AG (NYSE:ONON) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of On Holding AG (NYSE:ONON) have received an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $37.13.

Several brokerages have issued reports on ONON. Piper Sandler increased their price objective on shares of ON from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Truist Financial increased their price objective on shares of ON from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, March 13th. Barclays began coverage on shares of ON in a research report on Monday, April 1st. They issued an “overweight” rating and a $38.00 price objective for the company. Evercore ISI lowered their price objective on shares of ON from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, March 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $32.00 price objective on shares of ON in a research report on Monday.

ON Stock Performance

ONON opened at $31.94 on Tuesday. The firm has a 50 day moving average price of $33.08 and a 200 day moving average price of $29.39. The company has a market cap of $20.11 billion, a PE ratio of 118.30, a price-to-earnings-growth ratio of 1.10 and a beta of 2.16. ON has a 1 year low of $23.41 and a 1 year high of $37.08.

ON (NYSE:ONON) last posted its earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The business had revenue of $504.69 million for the quarter, compared to analyst estimates of $515.30 million. ON had a return on equity of 6.85% and a net margin of 4.04%. On average, sell-side analysts predict that ON will post 0.65 earnings per share for the current year.

Hedge Funds Weigh In On ON

Several large investors have recently added to or reduced their stakes in ONON. Spire Wealth Management lifted its stake in ON by 91.0% in the third quarter. Spire Wealth Management now owns 972 shares of the company’s stock valued at $27,000 after buying an additional 463 shares during the last quarter. Orion Capital Management LLC lifted its stake in ON by 1,100.0% in the fourth quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock valued at $32,000 after buying an additional 1,100 shares during the last quarter. VisionPoint Advisory Group LLC bought a new stake in ON in the fourth quarter valued at $32,000. Global Wealth Management Investment Advisory Inc. bought a new stake in ON in the fourth quarter valued at $33,000. Finally, Asset Dedication LLC bought a new stake in ON in the third quarter valued at $35,000. 33.11% of the stock is currently owned by institutional investors.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.