HB Wealth Management LLC Purchases New Shares in On Holding AG (NYSE:ONON)

HB Wealth Management LLC acquired a new position in On Holding AG (NYSE:ONON) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 13,800 shares of the company’s stock, valued at approximately $488,000.

A number of other institutional investors have also recently added to or reduced their stakes in ONON. Orion Capital Management LLC grew its position in shares of ON by 1,100.0% during the fourth quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after buying an additional 1,100 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new position in ON in the fourth quarter worth about $32,000. Global Wealth Management Investment Advisory Inc. bought a new stake in ON in the fourth quarter valued at about $33,000. Spire Wealth Management raised its stake in ON by 66.2% during the fourth 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. bought a new position in ON during the fourth quarter worth $47,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ONON. JPMorgan Chase & Co. raised their target price on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Truist Financial restated a “buy” rating and set a $46.00 price objective on shares of ON in a research report on Tuesday, June 18th. TD Cowen increased their target price on ON from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group boosted their price target on shares of ON from $41.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Needham & Company LLC increased their price objective on shares of ON from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.53.

ON Stock Up 0.9 %

Shares of ONON traded up $0.32 during mid-day trading on Friday, reaching $36.97. The company’s stock had a trading volume of 2,025,920 shares, compared to its average volume of 5,241,438. On Holding AG has a 1 year low of $23.41 and a 1 year high of $44.30. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 83.91, a price-to-earnings-growth ratio of 1.08 and a beta of 2.22. The business has a fifty day moving average of $38.22 and a 200 day moving average of $33.37.

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