On Holding AG (NYSE:ONON) Stock Has Average Target Price of $43.17 According to Brokerages

Shares of On Holding AG (NYSE:ONON) have earned an average rating of “Moderate Buy” from the twenty-eight research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, twenty have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $43.33.

Several equities analysts have recently commented on the company. Williams Trading set a $32.00 price objective on ON in a research report on Tuesday, August 11th. Capital One Financial set a $28.00 price objective on ON in a research note on Tuesday, September 8th. KeyCorp reiterated an “overweight” rating on shares of ON in a research report on Monday, September 28th. Citigroup reissued a “buy” rating on shares of ON in a research note on Wednesday, September 23rd. Finally, Jefferies Financial Group reissued an “underperform” rating on shares of ON in a report on Friday, September 18th.

ON Price Performance

Shares of NYSE ONON traded down $0.44 during midday trading on Friday, reaching $34.75. The stock had a trading volume of 10,189,693 shares, compared to its average volume of 13,080,182. The company has a market capitalization of $22.17 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 0.69 and a beta of 2.08. ON has a 12-month low of $26.36 and a 12-month high of $51.08. The stock has a 50-day moving average of $30.34 and a 200-day moving average of $34.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.09 billion. ON had a net margin of 12.09% and a return on equity of 22.92%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) EPS. As a group, research analysts anticipate that ON will post 1.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Olivier Bernhard acquired 65,000 shares of the business’s stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the acquisition, the insider directly owned 5,228,184 shares in the company, valued at $160,348,403.28. This represents a 1.26% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Caspar Coppetti acquired 65,000 shares of ON stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $30.67 per share, for a total transaction of $1,993,550.00. Following the transaction, the chief executive officer owned 2,440,855 shares of the company’s stock, valued at approximately $74,861,022.85. The trade was a 2.74% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 68.57% of the company’s stock.

Institutional Trading of ON

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $26,000 after purchasing an additional 312 shares during the last quarter. Ascentis Independent Advisors purchased a new position in shares of ON during the first quarter valued at about $34,000. State of Wyoming increased its holdings in shares of ON by 132.6% in the first quarter. State of Wyoming now owns 4,508 shares of the company’s stock worth $153,000 after purchasing an additional 2,570 shares during the last quarter. World Investment Advisors bought a new stake in shares of ON in the fourth quarter worth about $207,000. Finally, J. Derek Lewis & Associates Inc. bought a new stake in shares of ON in the fourth quarter worth about $212,000. 36.39% of the stock is currently owned by institutional investors.

About ON

On Holding AG, trading on the New York Stock Exchange under the symbol ONON, is a Swiss sportswear company focused on performance footwear, apparel and accessories. The company serves athletes and active consumers with products designed for running, training, outdoor activities and everyday wear.

On is best known for its running shoes, which incorporate the company’s CloudTec cushioning technology and distinctive sole designs. Its product portfolio also includes athletic clothing, apparel and accessories, with offerings positioned across both performance and lifestyle categories.