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

Shares of On Holding AG (NYSE:ONON) have received a consensus rating of “Moderate Buy” from the twenty-four brokerages that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $59.73.

ONON has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on ON from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. KeyCorp lifted their target price on ON from $60.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. BTIG Research raised ON from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Wednesday, November 13th. Truist Financial lifted their target price on ON from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Raymond James raised ON from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $58.00 to $63.00 in a research note on Thursday, November 21st.

ON Stock Performance

Shares of ONON opened at $59.84 on Thursday. The stock has a fifty day moving average price of $56.85 and a two-hundred day moving average price of $49.85. ON has a 52-week low of $26.10 and a 52-week high of $60.99. The company has a market cap of $37.68 billion, a price-to-earnings ratio of 139.18, a PEG ratio of 1.19 and a beta of 2.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Trust Co. NA acquired a new position in ON in the third quarter valued at about $26,000. Blue Trust Inc. lifted its holdings in shares of ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of ON by 210.5% in the third 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. bought a new stake in shares of ON in the third quarter valued at about $29,000. Finally, Quarry LP bought a new stake in shares of ON in the second quarter valued at about $32,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.