Sterling Investment Counsel LLC Grows Position in On Holding AG $ONON

Sterling Investment Counsel LLC increased its position in On Holding AG (NYSE:ONON) by 5.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,750 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Sterling Investment Counsel LLC’s holdings in ON were worth $299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Greenwood Capital Associates LLC purchased a new position in shares of ON in the 2nd quarter valued at approximately $476,000. River Street Advisors LLC purchased a new position in shares of ON in the 2nd quarter valued at approximately $190,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of ON in the 2nd quarter valued at approximately $152,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of ON in the 2nd quarter valued at approximately $41,208,000. Finally, Ninety One UK Ltd purchased a new position in shares of ON in the 2nd quarter valued at approximately $9,800,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ONON. UBS Group raised their target price on ON from $75.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Jefferies Financial Group set a $40.00 price objective on ON and gave the company an “underperform” rating in a research report on Wednesday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price objective on shares of ON in a research report on Tuesday, August 12th. Morgan Stanley raised their price objective on ON from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Finally, Barclays raised their price objective on ON from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $64.20.

ON Stock Up 3.5%

ON stock opened at $42.38 on Friday. The firm has a market cap of $26.68 billion, a price-to-earnings ratio of 94.17, a PEG ratio of 5.29 and a beta of 2.19. The stock has a fifty day simple moving average of $45.51 and a two-hundred day simple moving average of $48.86. On Holding AG has a 12 month low of $34.59 and a 12 month high of $64.05. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31.

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.