Analysts Set On Holding AG (NYSE:ONON) PT at $58.62

Shares of On Holding AG (NYSE:ONON) have earned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, eighteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $58.6190.

A number of brokerages have issued reports on ONON. Telsey Advisory Group decreased their price objective on ON from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. BTIG Research restated a “buy” rating and set a $70.00 price objective on shares of ON in a research report on Tuesday, March 3rd. Williams Trading downgraded ON from a “buy” rating to a “hold” rating and decreased their price objective for the company from $55.00 to $47.00 in a research report on Thursday, January 8th. UBS Group restated a “buy” rating on shares of ON in a research report on Thursday, February 19th. Finally, Evercore set a $45.00 price objective on ON and gave the company an “outperform” rating in a research report on Friday, March 27th.

ON Trading Up 1.0%

Shares of ONON stock opened at $37.30 on Friday. ON has a 1 year low of $31.41 and a 1 year high of $61.29. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.13. The stock’s 50 day simple moving average is $39.82 and its two-hundred day simple moving average is $42.59. The company has a market cap of $23.80 billion, a PE ratio of 51.81, a price-to-earnings-growth ratio of 0.74 and a beta of 2.23.

Insider Activity at ON

In other news, CEO Martin Hoffmann sold 4,150 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $33.95, for a total transaction of $140,892.50. Following the transaction, the chief executive officer owned 1,393,399 shares of the company’s stock, valued at approximately $47,305,896.05. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,450 shares of company stock worth $445,378 over the last quarter.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Cullen Frost Bankers Inc. grew its stake in shares of ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after buying an additional 467 shares during the last quarter. Caitlin John LLC bought a new position in shares of ON during the fourth quarter valued at approximately $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of ON during the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd grew its stake in shares of ON by 555.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after buying an additional 594 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its stake in shares of ON by 109.9% during the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock valued at $37,000 after buying an additional 421 shares during the last quarter. 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.