Analysts Set On Holding AG (NYSE:ONON) PT at $53.79

Shares of On Holding AG (NYSE:ONON) have earned a consensus rating of “Moderate Buy” from the twenty-two analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $53.6316.

A number of brokerages have commented on ONON. UBS Group dropped their price objective on shares of ON from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday. Wall Street Zen cut shares of ON from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings raised shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Zacks Research upgraded ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Guggenheim reiterated a “buy” rating and issued a $51.00 price target on shares of ON in a research report on Wednesday, May 13th.

Insider Activity

In related news, insider Olivier Bernhard bought 60,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the transaction, the insider owned 5,163,184 shares in the company, valued at $189,127,429.92. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David Michael Allemann purchased 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the acquisition, the chief executive officer directly owned 2,841,108 shares in the company, valued at $104,069,786.04. This trade represents a 2.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 180,000 shares of company stock valued at $6,594,000 in the last ninety days. Insiders own 68.57% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its stake in shares of ON by 40.9% in the fourth quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock valued at $1,121,092,000 after acquiring an additional 6,997,455 shares during the period. Platinum Paramount Investment LTD. purchased a new position in shares of ON during the 4th quarter worth about $525,784,000. Sinvest Investments II Ltd. purchased a new position in shares of ON during the 4th quarter worth about $390,432,000. Bamco Inc. NY grew its holdings in ON by 13.9% during the 4th quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock valued at $251,247,000 after purchasing an additional 658,933 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in ON by 44.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock valued at $138,865,000 after purchasing an additional 1,026,804 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Stock Up 0.1%

NYSE ONON opened at $37.92 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98. The company has a market capitalization of $24.20 billion, a P/E ratio of 40.78, a P/E/G ratio of 0.71 and a beta of 2.12. ON has a one year low of $31.41 and a one year high of $52.20. The stock has a 50 day moving average price of $37.67 and a 200-day moving average price of $39.40.

ON (NYSE:ONON) last posted its earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. ON’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. As a group, equities analysts predict that ON will post 1.5 EPS for the current fiscal year.

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.