On Holding AG (NYSE:ONON) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of On Holding AG (NYSE:ONON) have earned a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $37.13.

ONON has been the subject of a number of analyst reports. Telsey Advisory Group reissued an “outperform” rating and set a $37.00 target price on shares of ON in a research note on Wednesday. Evercore ISI dropped their price objective on ON from $40.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, March 13th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $40.00 price objective on shares of ON in a research note on Tuesday, March 5th. William Blair initiated coverage on ON in a research note on Tuesday, April 16th. They issued an “outperform” rating for the company. Finally, Redburn Atlantic reaffirmed a “neutral” rating and issued a $34.00 price objective on shares of ON in a research note on Thursday, March 7th.

Institutional Investors Weigh In On ON

Several hedge funds have recently made changes to their positions in the business. SlateStone Wealth LLC acquired a new stake in shares of ON during the first quarter worth $844,000. Peregrine Capital Management LLC acquired a new stake in shares of ON during the first quarter worth $7,937,000. California First Leasing Corp boosted its holdings in shares of ON by 179.3% during the first quarter. California First Leasing Corp now owns 101,100 shares of the company’s stock worth $3,577,000 after purchasing an additional 64,900 shares during the last quarter. Hedges Asset Management LLC boosted its holdings in shares of ON by 21.2% during the first quarter. Hedges Asset Management LLC now owns 10,300 shares of the company’s stock worth $364,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of ON by 29.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 38,632 shares of the company’s stock worth $1,367,000 after purchasing an additional 8,854 shares during the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Trading Up 2.7 %

Shares of ONON stock opened at $32.79 on Tuesday. The company has a market cap of $20.65 billion, a price-to-earnings ratio of 121.44, a price-to-earnings-growth ratio of 1.12 and a beta of 2.16. The stock has a 50 day simple moving average of $33.19 and a 200-day simple moving average of $29.59. ON has a 12-month low of $23.41 and a 12-month high of $37.08.

ON (NYSE:ONON) last issued its earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The business had revenue of $504.69 million for the quarter, compared to analysts’ expectations of $515.30 million. ON had a return on equity of 6.85% and a net margin of 4.04%. On average, equities analysts forecast that ON will post 0.65 earnings per share for the current fiscal year.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.