Cerity Partners LLC Buys 27,382 Shares of On Holding AG (NYSE:ONON)

Cerity Partners LLC boosted its position in On Holding AG (NYSE:ONON - Free Report) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 792,822 shares of the company's stock after acquiring an additional 27,382 shares during the quarter. Cerity Partners LLC owned 0.13% of ON worth $34,821,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of ON by 52.8% during the first quarter. Allworth Financial LP now owns 2,363 shares of the company's stock worth $106,000 after buying an additional 817 shares during the last quarter. LBP AM SA bought a new stake in shares of ON during the first quarter worth $3,326,000. MeadowBrook Investment Advisors LLC bought a new stake in shares of ON during the first quarter worth $138,000. Stratos Wealth Partners LTD. grew its stake in shares of ON by 10.5% during the first quarter. Stratos Wealth Partners LTD. now owns 28,707 shares of the company's stock worth $1,261,000 after buying an additional 2,738 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of ON by 11.0% during the first quarter. Envestnet Asset Management Inc. now owns 413,491 shares of the company's stock worth $18,161,000 after buying an additional 40,837 shares during the last quarter. 36.39% of the stock is owned by institutional investors.

ON Trading Down 1.6%

ONON stock traded down $0.84 during midday trading on Friday, hitting $52.47. The stock had a trading volume of 3,611,126 shares, compared to its average volume of 4,674,618. On Holding AG has a 1-year low of $34.59 and a 1-year high of $64.05. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19. The firm has a market cap of $33.04 billion, a P/E ratio of 74.96, a price-to-earnings-growth ratio of 2.95 and a beta of 2.25. The business has a fifty day moving average price of $54.95 and a two-hundred day moving average price of $51.88.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Telsey Advisory Group reaffirmed an "outperform" rating and set a $65.00 target price on shares of ON in a research note on Tuesday, May 13th. Morgan Stanley cut their price target on shares of ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Robert W. Baird lifted their price target on shares of ON from $63.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Evercore ISI lifted their price target on shares of ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Finally, Piper Sandler reiterated an "overweight" rating on shares of ON in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $63.85.

ON Company 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.