Wesbanco Bank Inc. Takes Position in On Holding AG (NYSE:ONON)

Wesbanco Bank Inc. bought a new stake in On Holding AG (NYSE:ONON) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 103,282 shares of the company’s stock, valued at approximately $5,180,000.

Several other hedge funds have also bought and sold shares of the stock. Quarry LP purchased a new stake in shares of ON during the 2nd quarter valued at $32,000. WD Rutherford LLC purchased a new stake in ON during the first quarter valued at about $52,000. Asset Dedication LLC lifted its stake in ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after purchasing an additional 327 shares during the last quarter. Orion Capital Management LLC boosted its holdings in shares of ON by 106.7% in the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock worth $88,000 after purchasing an additional 1,280 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of ON by 24.0% during the 2nd quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after purchasing an additional 500 shares during the last quarter. 33.11% of the stock is currently owned by institutional investors.

ON Trading Down 0.8 %

Shares of ON stock opened at $49.58 on Tuesday. The company’s fifty day simple moving average is $46.32 and its two-hundred day simple moving average is $40.40. On Holding AG has a 12-month low of $23.81 and a 12-month high of $52.80. The company has a market cap of $31.22 billion, a P/E ratio of 112.68 and a beta of 2.24.

ON (NYSE:ONON) last released 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 company had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. Analysts predict that On Holding AG will post 0.76 EPS for the current fiscal year.

Analysts Set New Price Targets

ONON has been the subject of a number of recent research reports. Piper Sandler boosted their target price on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. TD Cowen upped their price objective 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. Morgan Stanley increased their target price on shares of ON from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $21.00 to $55.00 in a research note on Monday, September 23rd. Finally, The Goldman Sachs Group raised their price objective on ON from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.74.

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.