Brokerages Set On Holding AG (NYSE:ONON) Price Target at $61.27

Shares of On Holding AG (NYSE:ONON) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-six research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $60.5909.

ONON has been the topic of several recent research reports. Raymond James Financial cut their target price on ON from $66.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 21st. JPMorgan Chase & Co. raised their price objective on ON from $71.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. UBS Group reaffirmed a “buy” rating on shares of ON in a research report on Monday, January 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. Finally, Bank of America boosted their price objective on shares of ON from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th.

ON Stock Down 4.7%

ON stock opened at $45.05 on Thursday. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28. ON has a 1-year low of $34.38 and a 1-year high of $64.05. The firm’s fifty day simple moving average is $45.24 and its 200-day simple moving average is $45.64. The company has a market capitalization of $28.29 billion, a P/E ratio of 58.50, a P/E/G ratio of 1.42 and a beta of 2.15.

Institutional Investors Weigh In On ON

Hedge funds have recently bought and sold shares of the company. Sands Capital Management LLC increased its stake in shares of ON by 46.7% in the third quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock worth $286,685,000 after purchasing an additional 2,155,083 shares during the period. Winslow Capital Management LLC bought a new stake in ON during the 2nd quarter valued at approximately $248,113,000. Bamco Inc. NY grew its holdings in ON by 14.7% in the 3rd quarter. Bamco Inc. NY now owns 4,746,553 shares of the company’s stock valued at $201,017,000 after buying an additional 606,579 shares during the last quarter. American Century Companies Inc. increased its position in ON by 9.9% in the 3rd quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock worth $171,876,000 after buying an additional 365,907 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of ON by 44.8% during the third quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock worth $138,865,000 after buying an additional 1,026,804 shares during 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.