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

On Holding AG (NYSE:ONON) has earned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, seventeen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $58.4762.

Several equities research analysts have commented on ONON shares. Telsey Advisory Group decreased their price objective on shares of ON from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Truist Financial decreased their price objective on shares of ON from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Zacks Research lowered shares of ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective on shares of ON in a research note on Thursday, February 26th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of ON in a research note on Wednesday, March 4th.

ON Trading Up 0.1%

NYSE:ONON opened at $36.24 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.71. The firm has a market cap of $23.13 billion, a price-to-earnings ratio of 50.34, a price-to-earnings-growth ratio of 0.73 and a beta of 2.23. ON has a 52 week low of $31.41 and a 52 week high of $61.29. The firm has a 50-day moving average price of $39.14 and a two-hundred day moving average price of $42.42.

Insider Activity at ON

In related news, CEO Martin Hoffmann sold 4,150 shares of ON stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $36.56, for a total value of $151,724.00. Following the sale, the chief executive officer owned 1,389,249 shares of the company’s stock, valued at approximately $50,790,943.44. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 16,600 shares of company stock valued at $597,102. Insiders own 68.57% of the company’s stock.

Institutional Investors Weigh In On ON

A number of hedge funds have recently modified their holdings of the stock. Capricorn Fund Managers Ltd bought a new stake in shares of ON in the 1st quarter worth approximately $4,748,000. Peregrine Capital Management LLC raised its holdings in shares of ON by 5.9% in the 1st quarter. Peregrine Capital Management LLC now owns 296,861 shares of the company’s stock worth $10,099,000 after purchasing an additional 16,440 shares during the period. APEIRON CAPITAL Ltd raised its holdings in shares of ON by 25.2% in the 1st quarter. APEIRON CAPITAL Ltd now owns 996,052 shares of the company’s stock worth $33,886,000 after purchasing an additional 200,200 shares during the period. Wasatch Advisors LP raised its holdings in shares of ON by 13.0% in the 1st quarter. Wasatch Advisors LP now owns 196,030 shares of the company’s stock worth $6,669,000 after purchasing an additional 22,597 shares during the period. Finally, Wesbanco Bank Inc. raised its holdings in shares of ON by 0.6% in the 1st quarter. Wesbanco Bank Inc. now owns 69,703 shares of the company’s stock worth $2,371,000 after purchasing an additional 400 shares during the period. Institutional investors own 36.39% of the company’s stock.

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.