Washington Trust Advisors Inc. Purchases Shares of 564 On Holding AG $ONON

Washington Trust Advisors Inc. purchased a new stake in On Holding AG (NYSE:ONON) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 564 shares of the company’s stock, valued at approximately $29,000.

Several other institutional investors have also modified their holdings of the company. Montag A & Associates Inc. acquired a new position in shares of ON during the 1st quarter worth about $26,000. TCTC Holdings LLC boosted its position in shares of ON by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock worth $26,000 after acquiring an additional 315 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of ON by 3,392.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock worth $42,000 after acquiring an additional 916 shares in the last quarter. Ramirez Asset Management Inc. acquired a new position in shares of ON during the 1st quarter worth about $44,000. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of ON during the 1st quarter worth about $48,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Price Performance

Shares of NYSE:ONON opened at $41.73 on Friday. The company has a 50-day simple moving average of $43.74 and a 200-day simple moving average of $48.67. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. The stock has a market capitalization of $26.27 billion, a price-to-earnings ratio of 92.72, a PEG ratio of 5.37 and a beta of 2.19.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.35). ON had a return on equity of 8.75% and a net margin of 4.45%.The firm had revenue of $944.29 million for the quarter, compared to analyst estimates of $707.74 million. During the same quarter last year, the firm earned $0.14 earnings per share. The company’s revenue was up 32.0% compared to the same quarter last year. ON has set its FY 2025 guidance at EPS. On average, analysts predict that On Holding AG will post 0.66 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. TD Cowen lowered their price objective on ON from $63.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Jefferies Financial Group set a $40.00 target price on ON and gave the company an “underperform” rating in a report on Wednesday, August 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. Raymond James Financial reduced their target price on ON from $66.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Barclays boosted their target price on ON from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, ON currently has an average rating of “Moderate Buy” and an average target price of $63.10.

ON Company Profile

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.