Los Angeles Capital Management LLC Purchases Shares of 17,928 On Holding AG $ONON

Los Angeles Capital Management LLC purchased a new position in On Holding AG (NYSE:ONON) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,928 shares of the company’s stock, valued at approximately $933,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ONON. Montag A & Associates Inc. bought a new position in ON in the 1st quarter worth $26,000. TCTC Holdings LLC raised its holdings in ON by 118.4% during the first quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock valued at $26,000 after acquiring an additional 315 shares during the period. Washington Trust Advisors Inc. purchased a new position in shares of ON in the second quarter valued at about $29,000. Smartleaf Asset Management LLC boosted its stake in shares of ON by 3,392.6% in the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock worth $42,000 after acquiring an additional 916 shares during the period. Finally, Ramirez Asset Management Inc. purchased a new stake in shares of ON during the first quarter worth about $44,000. 36.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ONON. JPMorgan Chase & Co. boosted their target price on shares of ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday. The Goldman Sachs Group lifted their price target on shares of ON from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday. Barclays dropped their price objective on shares of ON from $69.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday. Raymond James Financial reduced their target price on ON from $66.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 21st. Finally, Bank of America increased their price target on ON from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.14.

ON Stock Performance

ON stock opened at $42.39 on Friday. The company’s 50-day moving average price is $41.69 and its 200-day moving average price is $48.21. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The company has a market cap of $26.69 billion, a PE ratio of 55.05, a price-to-earnings-growth ratio of 5.16 and a beta of 2.18. On Holding AG has a twelve month low of $34.38 and a twelve month high of $64.05.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.35). ON had a return on equity of 15.47% and a net margin of 7.45%.The company had revenue of $944.29 million during the quarter, compared to analysts’ expectations of $707.74 million. During the same quarter in the prior year, the business posted $0.14 EPS. The company’s revenue was up 32.0% on a year-over-year basis. On average, equities research analysts forecast that On Holding AG will post 0.66 EPS for the current fiscal year.

About ON

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.