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

Shares of On Holding AG (NYSE:ONON) have been assigned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, fifteen have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $53.7895.

Several equities analysts have recently issued reports on the stock. Evercore set a $42.00 price target on shares of ON in a report on Tuesday, May 12th. Guggenheim reaffirmed a “buy” rating and issued a $51.00 price objective on shares of ON in a report on Wednesday, May 13th. Telsey Advisory Group cut their price objective on shares of ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Truist Financial reduced their target price on shares of ON from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, Wall Street Zen cut shares of ON from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th.

ON Trading Up 0.2%

Shares of NYSE ONON opened at $35.89 on Monday. ON has a 12-month low of $31.41 and a 12-month high of $52.41. The company has a market cap of $22.90 billion, a price-to-earnings ratio of 38.60, a price-to-earnings-growth ratio of 0.67 and a beta of 2.12. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. The stock’s 50 day simple moving average is $37.67 and its 200 day simple moving average is $39.65.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 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 firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business earned $0.21 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. Equities research analysts expect that ON will post 1.5 EPS for the current year.

Insider Activity

In other ON news, CEO Caspar Felix Coppetti acquired 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $36.64 per share, with a total value of $2,198,400.00. Following the acquisition, the chief executive officer directly owned 2,375,855 shares of the company’s stock, valued at $87,051,327.20. This represents a 2.59% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Olivier Bernhard acquired 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the acquisition, the insider directly owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. This represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 180,000 shares of company stock valued at $6,594,000.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Jacobi Capital Management LLC grew its stake in shares of ON by 3.6% in the fourth quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock worth $320,000 after purchasing an additional 240 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of ON by 2.8% during the fourth quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock valued at $486,000 after purchasing an additional 285 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of ON by 2.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock valued at $571,000 after purchasing an additional 285 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in ON by 2.2% in the fourth quarter. MetLife Investment Management LLC now owns 14,411 shares of the company’s stock worth $670,000 after purchasing an additional 308 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in ON by 69.6% in the first quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds 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.