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

On Holding AG (NYSE:ONON) has been given an average recommendation of “Moderate Buy” by the twenty-two ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $55.0526.

Several brokerages recently issued reports on ONON. KeyCorp reduced their target price on shares of ON from $58.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Wall Street Zen raised shares of ON from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Barclays cut their price target on ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Raymond James Financial upgraded ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research note on Thursday, April 23rd. Finally, Truist Financial decreased their price objective on ON from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, May 12th.

ON Stock Performance

ONON opened at $35.61 on Thursday. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. ON has a 12-month low of $31.41 and a 12-month high of $55.95. The firm has a 50 day moving average of $37.21 and a two-hundred day moving average of $40.92. The firm has a market capitalization of $22.73 billion, a PE ratio of 38.29, a P/E/G ratio of 0.66 and a beta of 2.12.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. On average, analysts anticipate that ON will post 1.5 EPS for the current year.

Insider Buying and Selling

In related news, CEO David Michael Allemann purchased 60,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was bought 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 chief executive officer owned 2,841,108 shares of the company’s stock, valued at $104,069,786.04. The trade was a 2.16% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Martin Hoffmann sold 4,150 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the completion of the sale, the chief executive officer owned 1,385,099 shares in the company, valued at approximately $49,641,948.16. This represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders bought 180,000 shares of company stock valued at $6,594,000 and sold 16,600 shares valued at $580,710. Company insiders own 68.57% of the company’s stock.

Hedge Funds Weigh In On ON

Several institutional investors have recently made changes to their positions in ONON. PVG Asset Management Corp lifted its stake in shares of ON by 5.4% in the 2nd quarter. PVG Asset Management Corp now owns 9,341 shares of the company’s stock valued at $331,000 after purchasing an additional 480 shares during the period. Lombard Odier Asset Management Europe Ltd purchased a new stake in ON during the first quarter worth $1,998,000. Militia Capital Management LLC acquired a new stake in ON during the first quarter valued at $1,388,000. Parallel Advisors LLC grew its position in ON by 23.3% during the first quarter. Parallel Advisors LLC now owns 12,887 shares of the company’s stock valued at $438,000 after buying an additional 2,432 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in ON by 37.5% in the first quarter. NewEdge Advisors LLC now owns 20,100 shares of the company’s stock valued at $684,000 after buying an additional 5,480 shares in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

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.