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

Shares of On Holding AG (NYSE:ONON) have been given an average rating of “Moderate Buy” by the twenty-four brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, seventeen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $59.8636.

Several research analysts have recently issued reports on ONON shares. TD Cowen boosted their price objective on shares of ON from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. The Goldman Sachs Group upped their price target on ON from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Zacks Research downgraded ON from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Guggenheim upgraded ON to a “strong-buy” rating in a research report on Wednesday, December 10th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of ON in a research report on Friday, December 5th.

Hedge Funds Weigh In On ON

A number of hedge funds have recently modified their holdings of ONON. Norges Bank acquired a new position in ON in the 2nd quarter worth $138,641,000. Bessemer Group Inc. acquired a new position in shares of ON during the second quarter worth about $43,344,000. Great Point Wealth Advisors LLC bought a new position in shares of ON during the third quarter worth about $1,607,000. Allianz Asset Management GmbH acquired a new stake in ON in the 2nd quarter valued at approximately $3,321,000. Finally, Hantz Financial Services Inc. raised its position in ON by 102.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 38,978 shares of the company’s stock valued at $2,029,000 after buying an additional 19,730 shares during the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Stock Performance

Shares of NYSE ONON opened at $43.48 on Monday. ON has a 12 month low of $34.38 and a 12 month high of $61.29. The company has a market cap of $27.30 billion, a P/E ratio of 56.47, a P/E/G ratio of 1.29 and a beta of 2.15. The business’s 50 day moving average is $46.77 and its two-hundred day moving average is $44.72. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28.

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.