Stock Traders Purchase High Volume of ON Call Options (NYSE:ONON)

On Holding AG (NYSE:ONON) saw some unusual options trading activity on Friday. Investors bought 21,170 call options on the company. This represents an increase of 39% compared to the typical daily volume of 15,254 call options.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ONON. TD Cowen upped their price target on shares of ON from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Truist Financial upped their price target on shares of ON from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Hsbc Global Res upgraded shares of ON to a “hold” rating in a research note on Thursday, September 5th. Piper Sandler raised their price target on shares of ON from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $47.00 price target on shares of ON in a report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.74.

Hedge Funds Weigh In On ON

A number of large investors have recently added to or reduced their stakes in ONON. Wealthcare Advisory Partners LLC raised its position in ON by 32.9% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 34,180 shares of the company’s stock worth $1,209,000 after purchasing an additional 8,455 shares during the period. Artemis Investment Management LLP raised its position in ON by 94.1% in the 1st quarter. Artemis Investment Management LLP now owns 16,108 shares of the company’s stock worth $570,000 after purchasing an additional 7,810 shares during the period. Register Financial Advisors LLC purchased a new position in shares of ON in the first quarter valued at about $100,000. KRS Capital Management LLC increased its position in shares of ON by 13.7% in the first quarter. KRS Capital Management LLC now owns 14,075 shares of the company’s stock valued at $498,000 after acquiring an additional 1,700 shares during the period. Finally, WD Rutherford LLC purchased a new position in shares of ON in the first quarter valued at about $52,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Stock Performance

NYSE ONON opened at $50.65 on Friday. The company has a market capitalization of $31.89 billion, a P/E ratio of 95.57 and a beta of 2.24. The company has a fifty day moving average of $48.10 and a 200-day moving average of $41.35. ON has a 52-week low of $24.15 and a 52-week high of $52.80.

ON (NYSE:ONON) last issued its earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The business had revenue of $627.66 million during the quarter, compared to analysts’ expectations of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. As a group, analysts forecast that ON will post 0.76 EPS 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.