On Holding AG (NYSE:ONON) Stock Has Consensus Price Target of $43.56

Key Points

• Analyst sentiment is broadly positive: Of 30 firms covering On Holding, 24 rate it Buy or Strong Buy, five Hold and one Sell; the average 12-month price target is $43.56.
• Quarterly results fell short of expectations: On reported EPS of $0.35 versus the $0.42 consensus and revenue of $1.05 billion versus $1.09 billion expected, although revenue grew 13.5% year over year.
• CEO Caspar Coppetti and insider Olivier Bernhard each bought 65,000 shares at an average price of $30.67, increasing their respective holdings.

Shares of On Holding AG (NYSE:ONON - Get Free Report) have been given a consensus rating of "Moderate Buy" by the thirty research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, twenty-two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $43.56.

Several equities research analysts have recently commented on the stock. Weiss Ratings raised shares of ON from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. KeyCorp reissued an "overweight" rating on shares of ON in a research note on Monday, September 28th. Williams Trading set a $32.00 price objective on shares of ON in a report on Tuesday, August 11th. Jefferies Financial Group reaffirmed an "underperform" rating on shares of ON in a research report on Tuesday, October 20th. Finally, Telsey Advisory Group lowered their price objective on ON from $51.00 to $43.00 and set an "outperform" rating for the company in a research report on Wednesday, August 12th.

ON Price Performance

ONON opened at $36.57 on Wednesday. The stock's 50 day simple moving average is $30.97 and its 200 day simple moving average is $36.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25. ON has a 1 year low of $26.36 and a 1 year high of $51.08. The firm has a market cap of $23.34 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 0.70 and a beta of 2.05.

ON (NYSE:ONON - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.09 billion. ON had a net margin of 12.09% and a return on equity of 22.92%. The company's quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. As a group, analysts predict that ON will post 1.50 earnings per share for the current year.

Insider Activity

In related news, CEO Caspar Coppetti bought 65,000 shares of the company's stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the acquisition, the chief executive officer owned 2,440,855 shares of the company's stock, valued at $74,861,022.85. The trade was a 2.74% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Olivier Bernhard purchased 65,000 shares of the stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the insider 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 SEC filing for this purchase provides additional information.

Institutional Trading of ON

Institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company's stock valued at $26,000 after purchasing an additional 312 shares during the last quarter. Signaturefd LLC increased its holdings in shares of ON by 29.5% in the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the company's stock worth $47,000 after purchasing an additional 364 shares in the last quarter. City Center Advisors LLC increased its holdings in shares of ON by 5.2% in the 3rd quarter. City Center Advisors LLC now owns 8,675 shares of the company's stock worth $257,000 after purchasing an additional 429 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in ON by 6.1% in the 1st quarter. Glenmede Trust Co. NA now owns 7,592 shares of the company's stock worth $258,000 after buying an additional 439 shares in the last quarter. Finally, PVG Asset Management Corp raised its position in ON by 5.4% in the 2nd quarter. PVG Asset Management Corp now owns 9,341 shares of the company's stock worth $331,000 after buying an additional 480 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company serves athletes and everyday consumers with products designed for running, training, outdoor activities and lifestyle use.

On is best known for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and the Speedboard propulsion system. Its product portfolio also includes athletic clothing, outerwear and accessories.

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