Register Financial Advisors LLC Makes New $100,000 Investment in On Holding AG (NYSE:ONON)

Register Financial Advisors LLC purchased a new position in shares of On Holding AG (NYSE:ONON) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,834 shares of the company’s stock, valued at approximately $100,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orion Capital Management LLC boosted its holdings in shares of ON by 1,100.0% in the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock valued at $32,000 after buying an additional 1,100 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new position in shares of ON in the 4th quarter valued at $32,000. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of ON in the 4th quarter valued at $33,000. Spire Wealth Management boosted its holdings in shares of ON by 66.2% in the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock valued at $45,000 after buying an additional 643 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new position in shares of ON in the 4th quarter valued at $47,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ONON shares. Telsey Advisory Group upped their target price on shares of ON from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, June 7th. William Blair started coverage on shares of ON in a research report on Tuesday, April 16th. They issued an “outperform” rating for the company. Barclays upped their price objective on shares of ON from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Morgan Stanley restated an “overweight” rating and set a $40.00 price objective on shares of ON in a research report on Friday, June 21st. Finally, Piper Sandler upped their price target on shares of ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

ON Stock Performance

NYSE ONON traded down $0.23 during trading hours on Friday, reaching $38.80. The company’s stock had a trading volume of 7,244,135 shares, compared to its average volume of 5,295,759. On Holding AG has a fifty-two week low of $23.41 and a fifty-two week high of $44.30. The stock has a market cap of $24.43 billion, a PE ratio of 88.18, a PEG ratio of 1.13 and a beta of 2.27. The company’s 50-day moving average is $37.82 and its two-hundred day moving average is $33.17.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The company had revenue of $581.41 million for the quarter, compared to analysts’ expectations of $555.52 million. Equities analysts expect that On Holding AG will post 0.78 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.