On Holding AG (NYSE:ONON) Receives $59.86 Average Price Target from Analysts

On Holding AG (NYSE:ONON) has been assigned an average rating of “Moderate Buy” from the twenty-four research firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $59.8636.

A number of research firms recently commented on ONON. Zacks Research cut ON from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target on shares of ON in a research note on Wednesday, January 28th. Barclays lowered their price target on shares of ON from $69.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. Raymond James Financial reduced their price objective on shares of ON from $66.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 21st. Finally, Evercore decreased their target price on shares of ON from $68.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th.

Hedge Funds Weigh In On ON

Several institutional investors have recently added to or reduced their stakes in the business. Sands Capital Management LLC increased its position in ON by 46.7% during the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock worth $286,685,000 after purchasing an additional 2,155,083 shares in the last quarter. Winslow Capital Management LLC acquired a new position in ON during the second quarter valued at approximately $248,113,000. Bamco Inc. NY grew its stake in ON by 14.7% during the third quarter. Bamco Inc. NY now owns 4,746,553 shares of the company’s stock worth $201,017,000 after buying an additional 606,579 shares during the period. American Century Companies Inc. grew its stake in ON by 9.9% during the third quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock worth $171,876,000 after buying an additional 365,907 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of ON by 44.8% in the third quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock worth $138,865,000 after acquiring an additional 1,026,804 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

ON stock opened at $43.48 on Monday. ON has a fifty-two week low of $34.38 and a fifty-two week high of $61.29. The company has a market capitalization of $27.30 billion, a price-to-earnings ratio of 56.47, a PEG ratio of 1.30 and a beta of 2.15. The stock has a fifty day moving average of $46.77 and a two-hundred day moving average of $44.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55.

About ON

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.