On Holding AG (NYSE:ONON) Receives $44.75 Consensus Target Price from Brokerages

Shares of On Holding AG (NYSE:ONON) have earned a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, eighteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $43.9167.

Several equities research analysts recently issued reports on ONON shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $62.00 price target on shares of ON in a report on Wednesday, August 12th. Weiss Ratings lowered ON from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, September 8th. JPMorgan Chase & Co. began coverage on ON in a report on Thursday, July 2nd. They issued an “overweight” rating and a $51.00 target price for the company. Wall Street Zen downgraded ON from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Capital One Financial set a $28.00 price target on ON in a research note on Tuesday, September 8th.

ON Price Performance

ONON stock opened at $27.31 on Tuesday. The company’s 50-day moving average price is $32.24 and its two-hundred day moving average price is $35.34. The firm has a market cap of $17.43 billion, a P/E ratio of 18.58, a P/E/G ratio of 0.55 and a beta of 2.08. The company has a quick ratio of 2.25, a current ratio of 2.83 and a debt-to-equity ratio of 0.25. ON has a 12 month low of $26.36 and a 12 month high of $51.08.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%.The business’s revenue was up 13.5% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. On average, analysts anticipate that ON will post 1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Caspar Coppetti acquired 65,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the acquisition, the chief executive officer directly owned 2,440,855 shares of the company’s stock, valued at approximately $74,861,022.85. This trade represents a 2.74% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Olivier Bernhard bought 65,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the transaction, the insider owned 5,228,184 shares in the company, valued at $160,348,403.28. The trade was a 1.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Institutional Investors Weigh In On ON

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of ON by 2.3% during the 2nd quarter. Wellington Management Group LLP now owns 2,751,615 shares of the company’s stock worth $97,462,000 after purchasing an additional 62,404 shares in the last quarter. One Capital Management LLC acquired a new stake in ON in the 4th quarter valued at $8,887,000. Quantinno Capital Management LP grew its holdings in shares of ON by 89.6% during the first quarter. Quantinno Capital Management LP now owns 66,947 shares of the company’s stock valued at $2,278,000 after buying an additional 31,641 shares during the last quarter. Norges Bank acquired a new position in ON during the 4th quarter valued at about $128,826,000. Finally, Lisanti Capital Growth LLC bought a new stake in ON during the 4th quarter worth approximately $4,455,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Company Profile

On Holding AG, known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company is particularly recognized for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and Speedboard components designed to support comfort, responsiveness and energy return.

On serves athletes and consumers across categories including running, outdoor activities, training and everyday performance. Its products are sold through the company’s direct-to-consumer channels, including its website and branded retail stores, as well as through a network of wholesale partners in markets around the world.

On was founded in 2010 in Switzerland by Olivier Bernhard, David Allemann and Caspar Coppetti.