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

On Holding AG (NYSE:ONON) has been assigned an average rating of “Moderate Buy” from the twenty-six brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, nineteen have issued a buy recommendation and four have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $61.2727.

ONON has been the topic of a number of research analyst reports. Guggenheim raised ON to a “strong-buy” rating in a research note on Wednesday. Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a research report on Wednesday, October 8th. TD Cowen boosted their target price on shares of ON from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Singular Research raised shares of ON to a “strong-buy” rating in a research note on Monday, November 17th. Finally, BTIG Research reiterated a “buy” rating and issued a $70.00 price target on shares of ON in a report on Tuesday, November 4th.

ON Price Performance

ONON stock opened at $48.73 on Friday. The stock has a market capitalization of $30.60 billion, a price-to-earnings ratio of 63.29, a price-to-earnings-growth ratio of 2.89 and a beta of 2.16. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28. ON has a 52-week low of $34.38 and a 52-week high of $64.05. The stock’s fifty day simple moving average is $42.08 and its 200-day simple moving average is $46.82.

Institutional Investors Weigh In On ON

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. purchased a new stake in shares of ON during the 2nd quarter worth about $29,000. Smartleaf Asset Management LLC lifted its position in ON by 3,392.6% during the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock valued at $42,000 after buying an additional 916 shares in the last quarter. United Financial Planning Group LLC purchased a new stake in ON during the third quarter worth approximately $42,000. Horizon Investments LLC acquired a new stake in shares of ON in the third quarter worth $44,000. Finally, GAMMA Investing LLC raised its stake in shares of ON by 5,888.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock valued at $46,000 after acquiring an additional 1,060 shares during the period. 36.39% of the stock is currently owned by institutional investors and hedge funds.

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.