On Holding AG (NYSE:ONON) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of On Holding AG (NYSE:ONON) have earned an average rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $64.20.

A number of research analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $62.00 price target on shares of ON in a report on Tuesday, August 12th. Barclays boosted their target price on shares of ON from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Morgan Stanley upped their price objective on shares of ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Jefferies Financial Group set a $40.00 price objective on shares of ON and gave the stock an “underperform” rating in a research report on Wednesday, August 13th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $65.00 price target on shares of ON in a report on Thursday, August 7th.

Hedge Funds Weigh In On ON

A number of large investors have recently added to or reduced their stakes in the stock. Ramirez Asset Management Inc. raised its position in ON by 20.0% during the second quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock worth $62,000 after acquiring an additional 200 shares during the period. CWM LLC raised its position in shares of ON by 22.2% during the 1st quarter. CWM LLC now owns 1,259 shares of the company’s stock worth $55,000 after purchasing an additional 229 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of ON by 1.0% during the 2nd quarter. Asset Management One Co. Ltd. now owns 24,939 shares of the company’s stock worth $1,298,000 after purchasing an additional 243 shares during the last quarter. Lido Advisors LLC raised its position in shares of ON by 1.2% during the 2nd quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock worth $1,236,000 after purchasing an additional 285 shares during the last quarter. Finally, Sterling Investment Counsel LLC raised its position in shares of ON by 5.5% during the 2nd quarter. Sterling Investment Counsel LLC now owns 5,750 shares of the company’s stock worth $299,000 after purchasing an additional 300 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

Shares of ONON stock opened at $42.11 on Tuesday. ON has a 52-week low of $34.59 and a 52-week high of $64.05. The stock has a market cap of $26.52 billion, a PE ratio of 93.58, a price-to-earnings-growth ratio of 5.44 and a beta of 2.19. The business has a 50-day simple moving average of $45.33 and a 200-day simple moving average of $48.84. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.