On Holding AG (NYSE:ONON) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of On Holding AG (NYSE:ONON) have received a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, fifteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $55.0526.

A number of research firms recently weighed in on ONON. Zacks Research cut ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Sanford C. Bernstein restated an “outperform” rating on shares of ON in a research note on Wednesday, March 4th. Needham & Company LLC dropped their price target on ON from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Stifel Nicolaus set a $58.00 price target on ON in a research note on Tuesday, March 3rd. Finally, Evercore set a $42.00 price target on ON in a research note on Tuesday, May 12th.

ON Trading Down 0.8%

Shares of ON stock opened at $37.18 on Friday. ON has a 12-month low of $31.41 and a 12-month high of $58.08. The stock has a market cap of $23.72 billion, a P/E ratio of 39.97, a P/E/G ratio of 0.72 and a beta of 2.10. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $36.06 and its 200-day moving average is $41.86.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the business posted $0.21 EPS. The business’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts predict that ON will post 1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ON news, CEO David Michael Allemann purchased 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the purchase, the chief executive officer owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. The trade was a 2.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Olivier Bernhard purchased 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838. Company insiders own 68.57% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in ON by 23.3% during the 1st quarter. Parallel Advisors LLC now owns 12,887 shares of the company’s stock worth $438,000 after buying an additional 2,432 shares during the period. NewEdge Advisors LLC increased its position in ON by 37.5% during the 1st quarter. NewEdge Advisors LLC now owns 20,100 shares of the company’s stock worth $684,000 after buying an additional 5,480 shares during the period. Glenmede Trust Co. NA increased its position in ON by 6.1% during the 1st quarter. Glenmede Trust Co. NA now owns 7,592 shares of the company’s stock worth $258,000 after buying an additional 439 shares during the period. EverSource Wealth Advisors LLC increased its position in ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after buying an additional 312 shares during the period. Finally, Riposte Capital LLC increased its position in ON by 30.0% during the 1st quarter. Riposte Capital LLC now owns 325,000 shares of the company’s stock worth $11,056,000 after buying an additional 75,000 shares during the period. Institutional investors own 36.39% of the company’s stock.

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.