ON (NYSE:ONON) Sets New 12-Month High at $38.80

On Holding AG (NYSE:ONON - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $38.80 and last traded at $38.68, with a volume of 1841560 shares changing hands. The stock had previously closed at $37.59.

Analyst Ratings Changes

Several research firms have commented on ONON. UBS Group raised their price objective on ON from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, May 15th. Needham & Company LLC raised their price objective on ON from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, May 15th. Barclays raised their price objective on ON from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, May 15th. Morgan Stanley raised their price objective on ON from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, May 15th. Finally, Truist Financial lifted their target price on ON from $30.00 to $34.00 and gave the stock a "hold" rating in a research report on Wednesday, May 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.87.

ON Stock Up 2.2 %

The firm has a market capitalization of $24.18 billion, a price-to-earnings ratio of 87.30, a P/E/G ratio of 1.31 and a beta of 2.17. The stock has a 50 day moving average of $33.77 and a 200 day moving average of $30.79.

ON (NYSE:ONON - Get Free Report) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.18). The firm had revenue of $504.69 million during the quarter, compared to analyst estimates of $515.30 million. ON had a return on equity of 11.13% and a net margin of 6.46%. Analysts predict that On Holding AG will post 0.65 earnings per share for the current year.

Hedge Funds Weigh In On ON

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its stake in ON by 4.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company's stock valued at $46,076,000 after acquiring an additional 76,746 shares during the period. Liontrust Investment Partners LLP boosted its position in shares of ON by 204.7% during the third quarter. Liontrust Investment Partners LLP now owns 517,942 shares of the company's stock worth $14,410,000 after buying an additional 347,942 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of ON by 127.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 131,585 shares of the company's stock worth $3,549,000 after buying an additional 73,839 shares during the period. Baltimore Washington Financial Advisors Inc. boosted its position in shares of ON by 10.3% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 292,338 shares of the company's stock worth $8,133,000 after buying an additional 27,206 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of ON by 10.6% during the third quarter. California Public Employees Retirement System now owns 397,752 shares of the company's stock worth $11,065,000 after buying an additional 38,103 shares during the period. 33.11% of the stock is currently owned by institutional investors and hedge funds.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.