On Holding AG (NYSE:ONON) Receives Average Rating of “Moderate Buy” from Brokerages

On Holding AG (NYSE:ONON) has earned a consensus rating of “Moderate Buy” from the twenty-three analysts that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $54.33.

ONON has been the subject of a number of research reports. Evercore ISI raised shares of ON to an “overweight” rating and lifted their price objective for the stock from $43.00 to $47.00 in a report on Monday, August 12th. BTIG Research raised shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday. HSBC began coverage on shares of ON in a research note on Thursday, September 5th. They set a “hold” rating and a $52.00 price objective on the stock. Robert W. Baird lifted their target price on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Williams Trading upgraded ON from a “hold” rating to a “buy” rating and increased their price target for the stock from $40.00 to $60.00 in a research report on Wednesday.

Hedge Funds Weigh In On ON

Hedge funds have recently modified their holdings of the company. Private Trust Co. NA acquired a new stake in shares of ON in the third quarter valued at $26,000. Blue Trust Inc. lifted its holdings in ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after acquiring an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of ON in the 3rd quarter worth approximately $29,000. Finally, Quarry LP bought a new stake in shares of ON in the 2nd quarter worth approximately $32,000. 33.11% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

Shares of NYSE ONON opened at $51.92 on Friday. The firm has a market cap of $32.69 billion, a price-to-earnings ratio of 120.74 and a beta of 2.25. ON has a 1 year low of $25.78 and a 1 year high of $56.44. The stock’s 50-day simple moving average is $49.56 and its 200-day simple moving average is $43.17.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 11.02% and a net margin of 5.87%. The company had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. As a group, research analysts predict that ON will post 0.75 EPS for the current year.

About ON

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.