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

Shares of On Holding AG (NYSE:ONON) have been given a consensus recommendation of “Moderate Buy” by the twenty-six brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, nineteen have issued a buy recommendation and four have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $61.2727.

Several brokerages recently issued reports on ONON. Piper Sandler reaffirmed an “overweight” rating on shares of ON in a research note on Friday, December 5th. TD Cowen boosted their target price on ON from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Raymond James Financial cut their price target on ON from $66.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 21st. JPMorgan Chase & Co. lifted their price objective on ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Finally, BTIG Research restated a “buy” rating and issued a $70.00 target price on shares of ON in a report on Tuesday, November 4th.

ON Price Performance

ON stock opened at $48.48 on Friday. The company has a fifty day simple moving average of $42.64 and a 200-day simple moving average of $46.44. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $30.45 billion, a price-to-earnings ratio of 62.97, a PEG ratio of 2.88 and a beta of 2.16. ON has a 52-week low of $34.38 and a 52-week high of $64.05.

Institutional Investors Weigh In On ON

Hedge funds have recently modified their holdings of the company. Allworth Financial LP raised its stake in ON by 63.8% during the third quarter. Allworth Financial LP now owns 3,950 shares of the company’s stock worth $167,000 after purchasing an additional 1,538 shares during the period. Cambria Investment Management L.P. increased its holdings in shares of ON by 1.5% during the 3rd quarter. Cambria Investment Management L.P. now owns 36,052 shares of the company’s stock worth $1,527,000 after buying an additional 534 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of ON during the 3rd quarter worth approximately $379,000. NewEdge Advisors LLC raised its position in shares of ON by 16.0% during the 3rd quarter. NewEdge Advisors LLC now owns 21,577 shares of the company’s stock valued at $914,000 after buying an additional 2,979 shares during the period. Finally, Armistice Capital LLC acquired a new position in ON in the third quarter valued at approximately $609,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

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.