On Holding AG (NYSE:ONON) Receives $57.55 Average Price Target from Analysts

Shares of On Holding AG (NYSE:ONON) have earned an average recommendation of “Moderate Buy” from the twenty-two analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, fifteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $55.0526.

A number of analysts recently commented on ONON shares. Barclays dropped their target price on shares of ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Guggenheim restated a “buy” rating and set a $51.00 price target on shares of ON in a report on Wednesday, May 13th. UBS Group restated a “buy” rating on shares of ON in a report on Thursday, February 19th. Truist Financial cut their price target on shares of ON from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Finally, BTIG Research restated a “buy” rating and set a $70.00 price target on shares of ON in a report on Tuesday, March 3rd.

ON Stock Down 2.0%

NYSE ONON opened at $37.34 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39. The company’s 50 day simple moving average is $36.05 and its 200 day simple moving average is $41.76. ON has a 12 month low of $31.41 and a 12 month high of $61.29. The company has a market capitalization of $23.83 billion, a P/E ratio of 40.16, a PEG ratio of 0.76 and a beta of 2.09.

Insider Activity

In other news, CEO David Michael Allemann purchased 60,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the acquisition, the chief executive officer directly owned 2,841,108 shares of the company’s stock, valued at $104,069,786.04. The trade was a 2.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Olivier Bernhard purchased 60,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the acquisition, the insider directly owned 5,163,184 shares of the company’s stock, valued at $189,127,429.92. This trade represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Morgan Stanley increased its stake in ON by 40.9% in the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock valued at $1,121,092,000 after buying an additional 6,997,455 shares during the period. Platinum Paramount Investment LTD. acquired a new position in ON in the 4th quarter valued at approximately $525,784,000. Sinvest Investments II Ltd. acquired a new position in ON in the 4th quarter valued at approximately $390,432,000. Sands Capital Management LLC increased its stake in ON by 46.7% in the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock valued at $286,685,000 after buying an additional 2,155,083 shares during the period. Finally, Bamco Inc. NY increased its stake in ON by 13.9% in the 4th quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock valued at $251,247,000 after buying an additional 658,933 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.