National Bank of Canada FI Has $7.78 Million Holdings in On Holding AG (NYSE:ONON)

Key Points

• The National Bank of Canada FI increased its stake in On Holding AG by 20.7%, owning a total of 177,112 shares worth approximately $7.78 million after acquiring an additional 30,374 shares in the latest quarter.
• On Holding AG has a current market capitalization of $31.34 billion, with a 52-week trading range between $34.59 and $64.05.
• Wall Street analysts have given On Holding AG a consensus rating of "Moderate Buy" with a target price averaging around $64.00, reflecting strong confidence in the company's growth potential.

National Bank of Canada FI raised its holdings in On Holding AG (NYSE:ONON - Free Report) by 20.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 177,112 shares of the company's stock after purchasing an additional 30,374 shares during the period. National Bank of Canada FI's holdings in ON were worth $7,778,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Montag A & Associates Inc. acquired a new stake in shares of ON in the first quarter valued at approximately $26,000. TCTC Holdings LLC raised its position in shares of ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after buying an additional 315 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of ON in the fourth quarter valued at approximately $32,000. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of ON in the first quarter valued at approximately $32,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of ON in the fourth quarter valued at approximately $44,000. Institutional investors own 36.39% of the company's stock.

ON Trading Up 2.6%

NYSE ONON traded up $1.14 on Friday, hitting $45.35. The company's stock had a trading volume of 9,607,226 shares, compared to its average volume of 5,490,208. The company has a quick ratio of 2.18, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. On Holding AG has a 1-year low of $34.59 and a 1-year high of $64.05. The company's 50-day moving average is $51.67 and its 200 day moving average is $50.77. The firm has a market cap of $28.55 billion, a PE ratio of 100.78, a PEG ratio of 2.75 and a beta of 2.24.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group set a $79.00 price target on shares of ON and gave the stock a "buy" rating in a report on Wednesday. Barclays reaffirmed an "overweight" rating and set a $69.00 price target (up previously from $68.00) on shares of ON in a report on Wednesday. Raymond James Financial downgraded shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price target for the company. in a report on Tuesday, July 22nd. Truist Financial upped their price target on shares of ON from $61.00 to $69.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Finally, Citigroup raised shares of ON from a "neutral" rating to a "buy" rating and cut their price target for the stock from $65.00 to $60.00 in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.20.

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.