On Holding AG (NYSE:ONON) Receives $59.86 Average Target Price from Analysts

On Holding AG (NYSE:ONON) has received an average rating of “Moderate Buy” from the twenty-five brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, seventeen have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $59.8636.

A number of research firms recently commented on ONON. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price on shares of ON in a research report on Wednesday, January 28th. Williams Trading downgraded ON from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $55.00 to $47.00 in a research note on Thursday, January 8th. JPMorgan Chase & Co. increased their target price on ON from $71.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Barclays cut their target price on shares of ON from $69.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. Finally, Raymond James Financial decreased their price target on shares of ON from $66.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 21st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rollins Financial Advisors LLC purchased a new stake in ON during the fourth quarter valued at approximately $208,000. NewEdge Wealth LLC bought a new position in shares of ON during the 4th quarter valued at approximately $326,000. RFG Advisory LLC bought a new position in shares of ON during the 4th quarter valued at approximately $1,343,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in ON by 54.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock valued at $8,320,000 after buying an additional 62,500 shares during the period. Finally, SBI Securities Co. Ltd. lifted its position in ON by 86.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 13,656 shares of the company’s stock worth $635,000 after buying an additional 6,326 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Stock Performance

Shares of NYSE ONON opened at $43.87 on Monday. The company has a market cap of $27.55 billion, a P/E ratio of 56.97, a P/E/G ratio of 1.32 and a beta of 2.15. ON has a 52-week low of $34.38 and a 52-week high of $61.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55. The firm’s fifty day moving average is $46.79 and its two-hundred day moving average is $44.80.

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.