Congress Park Capital LLC Increases Stock Position in On Holding AG (NYSE:ONON)

Congress Park Capital LLC boosted its position in On Holding AG (NYSE:ONON) by 13.5% during the first quarter, Holdings Channel.com reports. The fund owned 30,120 shares of the company’s stock after purchasing an additional 3,593 shares during the quarter. Congress Park Capital LLC’s holdings in ON were worth $1,323,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of ON during the fourth quarter worth about $164,574,000. Arrowstreet Capital Limited Partnership purchased a new position in ON in the 4th quarter valued at about $78,799,000. Axiom Investors LLC DE acquired a new stake in shares of ON during the fourth quarter valued at about $39,320,000. BNP Paribas Financial Markets purchased a new position in ON in the fourth quarter valued at about $39,119,000. Finally, Raymond James Financial Inc. acquired a new stake in ON during the 4th quarter valued at approximately $28,575,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Upgrades and Downgrades

ONON has been the subject of several research analyst reports. Williams Trading increased their target price on ON from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Jefferies Financial Group began coverage on shares of ON in a research note on Tuesday, April 1st. They set a “hold” rating and a $44.00 price objective on the stock. KeyCorp boosted their target price on shares of ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 14th. Hsbc Global Res raised shares of ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Cowen reissued a “buy” rating on shares of ON in a report on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $63.85.

ON Stock Down 0.4%

ONON stock opened at $51.88 on Friday. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.80 and a quick ratio of 2.18. The firm has a market capitalization of $32.67 billion, a P/E ratio of 74.12, a P/E/G ratio of 2.96 and a beta of 2.35. The company’s 50 day simple moving average is $52.26 and its 200-day simple moving average is $52.37.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.