Calamos Advisors LLC Acquires 2,105 Shares of On Holding AG $ONON

Calamos Advisors LLC raised its holdings in shares of On Holding AG (NYSE:ONON) by 5.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 37,820 shares of the company’s stock after buying an additional 2,105 shares during the period. Calamos Advisors LLC’s holdings in ON were worth $1,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ONON. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of ON during the 2nd quarter worth about $1,741,000. Geode Capital Management LLC bought a new position in ON in the 2nd quarter valued at about $70,152,000. Lisanti Capital Growth LLC acquired a new stake in ON during the second quarter worth approximately $3,978,000. King Luther Capital Management Corp boosted its holdings in shares of ON by 2.7% during the second quarter. King Luther Capital Management Corp now owns 118,677 shares of the company’s stock worth $6,177,000 after acquiring an additional 3,122 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new position in shares of ON in the second quarter valued at approximately $166,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

ONON opened at $42.39 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. On Holding AG has a 52-week low of $34.38 and a 52-week high of $64.05. The firm has a market cap of $26.69 billion, a P/E ratio of 55.05, a price-to-earnings-growth ratio of 5.16 and a beta of 2.18. The business’s fifty day moving average is $41.69 and its 200-day moving average is $48.21.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.35). The firm had revenue of $944.29 million for the quarter, compared to the consensus estimate of $707.74 million. ON had a return on equity of 15.47% and a net margin of 7.45%.The company’s revenue for the quarter was up 32.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 EPS. Sell-side analysts expect that On Holding AG will post 0.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ONON. Citigroup cut ON from a “buy” rating to a “mixed” rating in a report on Tuesday, October 28th. Raymond James Financial dropped their target price on ON from $66.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 21st. Needham & Company LLC reduced their target price on shares of ON from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley raised their price target on shares of ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Evercore ISI dropped their price objective on shares of ON from $68.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.14.

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.