Brokerages Set On Holding AG (NYSE:ONON) Price Target at $63.10

Shares of On Holding AG (NYSE:ONON) have received an average rating of “Moderate Buy” from the twenty-four analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation, nineteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $62.75.

Several analysts have commented on the company. Raymond James Financial lowered their price target on ON from $66.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 21st. Zacks Research cut ON from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. The Goldman Sachs Group set a $50.00 price target on ON in a report on Monday. UBS Group boosted their target price on ON from $75.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $62.00 target price on shares of ON in a report on Tuesday, August 12th.

ON Stock Up 1.3%

ONON opened at $42.23 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. The stock has a market capitalization of $26.59 billion, a price-to-earnings ratio of 93.85, a price-to-earnings-growth ratio of 5.18 and a beta of 2.19. The business has a 50-day moving average of $43.68 and a two-hundred day moving average of $48.74. ON has a 12 month low of $34.59 and a 12 month high of $64.05.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.35). The business had revenue of $944.29 million during the quarter, compared to analysts’ expectations of $707.74 million. ON had a net margin of 4.45% and a return on equity of 8.75%. The firm’s quarterly revenue was up 32.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 EPS. ON has set its FY 2025 guidance at EPS. On average, research analysts expect that ON will post 0.66 earnings per share for the current year.

Institutional Trading of ON

A number of institutional investors have recently modified their holdings of ONON. Winslow Capital Management LLC purchased a new stake in shares of ON during the 2nd quarter worth about $248,113,000. Sands Capital Management LLC purchased a new stake in shares of ON during the 2nd quarter worth about $240,177,000. Jennison Associates LLC grew its holdings in shares of ON by 136.6% during the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock worth $212,943,000 after purchasing an additional 2,798,794 shares during the period. Norges Bank purchased a new stake in shares of ON during the 2nd quarter worth about $138,641,000. Finally, Alliancebernstein L.P. lifted its position in ON by 13.9% during the 1st quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock worth $869,388,000 after acquiring an additional 2,416,534 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Company Profile

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.