On Holding AG $ONON Shares Acquired by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. increased its stake in On Holding AG (NYSE:ONON) by 159.9% during the third quarter, HoldingsChannel.com reports. The fund owned 931,031 shares of the company’s stock after buying an additional 572,854 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in ON were worth $27,568,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in shares of ON by 69.6% during the first quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after purchasing an additional 312 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its position in shares of ON by 5,181.2% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 845 shares of the company’s stock valued at $25,000 after purchasing an additional 829 shares during the period. Guardian Partners Inc. acquired a new position in shares of ON in the 3rd quarter valued at $41,000. Signaturefd LLC boosted its position in shares of ON by 29.5% in the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the company’s stock valued at $47,000 after purchasing an additional 364 shares during the period. Finally, Covestor Ltd increased its stake in ON by 39.5% in the 3rd quarter. Covestor Ltd now owns 2,984 shares of the company’s stock worth $88,000 after purchasing an additional 845 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Price Performance

ONON opened at $33.67 on Friday. The firm has a market capitalization of $21.49 billion, a P/E ratio of 20.17, a PEG ratio of 0.64 and a beta of 2.05. The stock has a fifty day moving average of $32.15 and a 200-day moving average of $36.23. The company has a quick ratio of 2.25, a current ratio of 3.11 and a debt-to-equity ratio of 0.28. On Holding AG 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, November 10th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.18. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. ON had a return on equity of 22.45% and a net margin of 12.41%. ON’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. Equities analysts forecast that On Holding AG will post 1.50 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on ONON. BMO Capital Markets restated a “market perform” rating and set a $35.00 price objective on shares of ON in a report on Wednesday, October 28th. Capital One Financial set a $28.00 price objective on shares of ON in a research note on Tuesday, September 8th. Berenberg Bank set a $38.00 target price on shares of ON in a report on Monday, September 14th. Piper Sandler reissued an “overweight” rating on shares of ON in a research report on Monday. Finally, Telsey Advisory Group cut their price target on shares of ON from $51.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.33.

ON Profile

On Holding AG, which trades on the New York Stock Exchange under the symbol ONON, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. Its products serve runners and other athletes, as well as consumers seeking athletic-inspired everyday wear. The company is known for its running shoes, which feature its CloudTec cushioning technology. On also offers apparel and equipment for activities including running, training and outdoor sports, selling through wholesale partners and its own retail and online channels.