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

Shares of On Holding AG (NYSE:ONON) have been assigned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $60.00.

A number of equities analysts have recently commented on ONON shares. Williams Trading raised their price objective on ON from $60.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. KeyCorp reaffirmed an “overweight” rating and set a $68.00 price target on shares of ON in a research report on Wednesday, March 5th. Stifel Nicolaus cut their price objective on ON from $66.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Hsbc Global Res raised shares of ON from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, The Goldman Sachs Group cut shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price target for the company. in a research note on Wednesday, February 12th.

ON Trading Down 1.2 %

Shares of ONON opened at $42.99 on Tuesday. The stock has a market capitalization of $27.07 billion, a price-to-earnings ratio of 99.98, a PEG ratio of 1.02 and a beta of 2.32. ON has a 12 month low of $29.84 and a 12 month high of $64.05. The firm has a fifty day simple moving average of $47.41 and a 200 day simple moving average of $51.96.

Hedge Funds Weigh In On ON

Several hedge funds and other institutional investors have recently made changes to their positions in ONON. Strategic Financial Concepts LLC bought a new position in ON in the fourth quarter valued at approximately $30,000. Park Square Financial Group LLC acquired a new stake in shares of ON in the 4th quarter valued at $32,000. MassMutual Private Wealth & Trust FSB bought a new position in shares of ON in the 1st quarter valued at $32,000. Legacy Bridge LLC acquired a new position in shares of ON during the 4th quarter worth $43,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of ON during the 4th quarter worth $44,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.