Capital Advisors Inc. OK Buys 301 Shares of On Holding AG (NYSE:ONON)

Capital Advisors Inc. OK boosted its stake in shares of On Holding AG (NYSE:ONON) by 5.1% during the third quarter, Holdings Channel.com reports. The firm owned 6,186 shares of the company’s stock after purchasing an additional 301 shares during the quarter. Capital Advisors Inc. OK’s holdings in ON were worth $310,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ONON. Americana Partners LLC boosted its holdings in shares of ON by 43.0% in the 3rd quarter. Americana Partners LLC now owns 8,060 shares of the company’s stock valued at $404,000 after buying an additional 2,424 shares in the last quarter. Stephens Inc. AR lifted its position in ON by 9.1% during the third quarter. Stephens Inc. AR now owns 41,777 shares of the company’s stock valued at $2,095,000 after acquiring an additional 3,493 shares during the last quarter. US Bancorp DE boosted its stake in ON by 207.7% in the third quarter. US Bancorp DE now owns 17,649 shares of the company’s stock valued at $885,000 after acquiring an additional 11,914 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in ON in the third quarter valued at approximately $79,000. Finally, Pinnacle Associates Ltd. grew its holdings in ON by 165.1% in the third quarter. Pinnacle Associates Ltd. now owns 26,170 shares of the company’s stock worth $1,312,000 after purchasing an additional 16,300 shares during the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ONON shares. Evercore ISI raised ON to an “overweight” rating and raised their price objective for the stock from $43.00 to $47.00 in a research report on Monday, August 12th. Hsbc Global Res upgraded ON to a “hold” rating in a research note on Thursday, September 5th. Stifel Nicolaus upped their price objective on shares of ON from $45.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Truist Financial lifted their target price on shares of ON from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Piper Sandler upped their price target on shares of ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, ON has an average rating of “Moderate Buy” and an average target price of $49.74.

ON Price Performance

Shares of NYSE ONON opened at $46.50 on Friday. The firm’s 50 day simple moving average is $48.66 and its 200-day simple moving average is $41.91. On Holding AG has a 12 month low of $24.15 and a 12 month high of $52.80. The stock has a market capitalization of $29.28 billion, a price-to-earnings ratio of 87.74 and a beta of 2.25.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. Analysts anticipate 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.