Analyst IMS Investment Management Services Ltd. Buys 13,480 Shares of On Holding AG (NYSE:ONON)

Analyst IMS Investment Management Services Ltd. boosted its stake in On Holding AG (NYSE:ONON - Free Report) by 37.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,120 shares of the company's stock after buying an additional 13,480 shares during the period. Analyst IMS Investment Management Services Ltd.'s holdings in ON were worth $2,157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in ON by 241.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 63,930 shares of the company's stock worth $2,808,000 after buying an additional 45,223 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of ON in the 1st quarter worth approximately $250,000. SG Americas Securities LLC grew its stake in shares of ON by 77.8% in the 1st quarter. SG Americas Securities LLC now owns 127,516 shares of the company's stock worth $5,601,000 after buying an additional 55,791 shares during the last quarter. Bennett Selby Investments LP grew its stake in shares of ON by 19.3% in the 1st quarter. Bennett Selby Investments LP now owns 26,057 shares of the company's stock worth $1,144,000 after buying an additional 4,208 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in ON by 15.6% during the 1st quarter. Park Avenue Securities LLC now owns 18,505 shares of the company's stock valued at $813,000 after buying an additional 2,499 shares in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Piper Sandler reissued an "overweight" rating on shares of ON in a report on Tuesday, May 13th. KeyCorp lifted their price target on ON from $60.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Evercore ISI upped their price target on shares of ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Raymond James Financial restated a "strong-buy" rating on shares of ON in a research note on Wednesday, May 14th. Finally, Morgan Stanley decreased their target price on shares of ON from $66.00 to $62.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $63.85.

ON Stock Performance

Shares of ONON stock traded up $0.92 during trading hours on Friday, reaching $52.79. The company had a trading volume of 3,693,771 shares, compared to its average volume of 4,563,792. The business has a fifty day moving average price of $52.44 and a 200-day moving average price of $52.28. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The firm has a market cap of $33.24 billion, a PE ratio of 75.42, a price-to-earnings-growth ratio of 3.01 and a beta of 2.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.18 and a current ratio of 2.80.

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.