Whittier Trust Co. of Nevada Inc. Purchases 2,174 Shares of On Holding AG (NYSE:ONON)

Whittier Trust Co. of Nevada Inc. lifted its holdings in On Holding AG (NYSE:ONON) by 135.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,777 shares of the company’s stock after acquiring an additional 2,174 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in ON were worth $189,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of ONON. William Blair Investment Management LLC purchased a new position in ON in the first quarter worth $121,712,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of ON by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock worth $98,636,000 after buying an additional 14,674 shares during the last quarter. 1832 Asset Management L.P. grew its position in ON by 66,838.9% during the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock valued at $93,500,000 after buying an additional 2,406,200 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in ON by 30.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,224,894 shares of the company’s stock worth $78,717,000 after buying an additional 516,478 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in ON in the first quarter worth about $65,898,000. 33.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ONON shares. Evercore ISI raised shares of ON to an “overweight” rating and increased their target price for the company from $43.00 to $47.00 in a research report on Monday, August 12th. TD Cowen raised their target price on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Telsey Advisory Group restated an “outperform” rating and issued a $47.00 target price on shares of ON in a research note on Tuesday, August 13th. Morgan Stanley increased their price target on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, KeyCorp boosted their price objective on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.74.

ON Stock Performance

NYSE:ONON opened at $47.36 on Thursday. On Holding AG has a 52-week low of $24.15 and a 52-week high of $52.80. The stock has a fifty day moving average of $47.84 and a 200 day moving average of $41.18. The firm has a market capitalization of $29.82 billion, a price-to-earnings ratio of 89.36 and a beta of 2.24.

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