On Holding AG $ONON Position Increased by Impax Asset Management Group plc

Impax Asset Management Group plc raised its stake in On Holding AG (NYSE:ONON) by 38.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,175 shares of the company’s stock after buying an additional 14,233 shares during the period. Impax Asset Management Group plc’s holdings in ON were worth $2,664,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of ONON. Public Employees Retirement System of Ohio grew its holdings in shares of ON by 106.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock worth $3,570,000 after acquiring an additional 35,391 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of ON by 36.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company’s stock valued at $494,000 after purchasing an additional 3,025 shares during the period. Citigroup Inc. boosted its position in shares of ON by 73.1% in the 1st quarter. Citigroup Inc. now owns 213,127 shares of the company’s stock valued at $9,361,000 after purchasing an additional 89,982 shares during the period. Red Spruce Capital LLC increased its stake in ON by 64.8% in the 2nd quarter. Red Spruce Capital LLC now owns 35,566 shares of the company’s stock worth $1,851,000 after purchasing an additional 13,980 shares in the last quarter. Finally, Bessemer Group Inc. acquired a new stake in ON during the 2nd quarter worth about $43,344,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Performance

Shares of ONON opened at $42.39 on Friday. The company has a market capitalization of $26.69 billion, a PE ratio of 55.05, a PEG ratio of 5.16 and a beta of 2.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. The company’s 50 day moving average price is $41.69 and its 200 day moving average price is $48.21. On Holding AG has a 52 week low of $34.38 and a 52 week high of $64.05.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 previous year, the company earned $0.14 EPS. The firm’s quarterly revenue was up 32.0% compared to the same quarter last year. Research analysts expect that On Holding AG will post 0.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler decreased their target price on shares of ON from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Weiss Ratings restated a “sell (d+)” rating on shares of ON in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen lifted their price objective on shares of ON from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Barclays reduced their target price on ON from $69.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.14.

ON 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.