On Holding AG (NYSE:ONON) Receives $48.57 Consensus Price Target from Brokerages

Shares of On Holding AG (NYSE:ONON) have received an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $48.5714.

A number of equities analysts have commented on the stock. Zacks Research cut shares of ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. BTIG Research lowered their price objective on shares of ON from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Williams Trading set a $32.00 price objective on shares of ON in a report on Tuesday, August 11th. Jefferies Financial Group set a $20.00 target price on ON in a research note on Tuesday, August 11th. Finally, Stifel Nicolaus lowered their price target on ON from $60.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th.

Insider Activity

In other news, CEO Caspar Felix Coppetti bought 65,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average price of $30.67 per share, for a total transaction of $1,993,550.00. Following the transaction, the chief executive officer directly owned 2,440,855 shares of the company’s stock, valued at $74,861,022.85. This represents a 2.74% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Olivier Bernhard bought 65,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the insider directly owned 5,228,184 shares in the company, valued at $160,348,403.28. The trade was a 1.26% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 68.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in ON by 54.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock worth $8,320,000 after purchasing an additional 62,500 shares during the period. One Capital Management LLC purchased a new stake in ON during the fourth quarter valued at about $8,887,000. Quantinno Capital Management LP boosted its position in ON by 89.6% during the first quarter. Quantinno Capital Management LP now owns 66,947 shares of the company’s stock valued at $2,278,000 after buying an additional 31,641 shares during the period. RFG Advisory LLC bought a new position in shares of ON during the fourth quarter valued at about $1,343,000. Finally, Norges Bank bought a new position in shares of ON during the fourth quarter valued at about $128,826,000. 36.39% of the stock is currently owned by institutional investors.

ON Stock Performance

Shares of ONON opened at $29.01 on Friday. ON has a 12-month low of $28.55 and a 12-month high of $51.08. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 0.25. The company has a market cap of $18.51 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 0.59 and a beta of 2.12. The stock has a 50-day moving average price of $35.33 and a 200-day moving average price of $37.58.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%.The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) earnings per share. As a group, equities analysts forecast that ON will post 1.47 earnings per share for the current fiscal year.

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.