On Holding AG (NYSE:ONON) Receives Consensus Recommendation of "Moderate Buy" from Analysts

On Holding AG (NYSE:ONON - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seventeen analysts that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $37.13.

ONON has been the topic of several research reports. Stifel Nicolaus restated a "buy" rating and set a $40.00 price target on shares of ON in a research report on Tuesday, March 5th. Redburn Atlantic restated a "neutral" rating and set a $34.00 price target on shares of ON in a research report on Thursday, March 7th. Truist Financial lifted their price target on ON from $29.00 to $30.00 and gave the company a "hold" rating in a research report on Wednesday, March 13th. Evercore ISI dropped their price target on ON from $40.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 13th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $37.00 price target on shares of ON in a research report on Wednesday, March 6th.

ON Trading Up 1.9 %

NYSE ONON traded up $0.61 on Tuesday, hitting $32.54. The company's stock had a trading volume of 2,913,289 shares, compared to its average volume of 5,301,237. ON has a 52-week low of $23.41 and a 52-week high of $37.08. The company's 50-day simple moving average is $33.12 and its 200 day simple moving average is $29.45. The firm has a market cap of $20.49 billion, a P/E ratio of 119.93, a PEG ratio of 1.10 and a beta of 2.16.

ON (NYSE:ONON - Get Free Report) last released its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.18). ON had a return on equity of 6.85% and a net margin of 4.04%. The business had revenue of $504.69 million during the quarter, compared to analysts' expectations of $515.30 million. On average, research analysts forecast that ON will post 0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Jennison Associates LLC increased its position in ON by 7.6% during the third quarter. Jennison Associates LLC now owns 7,887,000 shares of the company's stock valued at $219,416,000 after acquiring an additional 554,513 shares during the last quarter. American Century Companies Inc. increased its position in ON by 109.3% during the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company's stock valued at $182,688,000 after acquiring an additional 3,428,794 shares during the last quarter. 1832 Asset Management L.P. increased its position in ON by 36.2% during the fourth quarter. 1832 Asset Management L.P. now owns 3,160,000 shares of the company's stock valued at $85,225,000 after acquiring an additional 840,600 shares during the last quarter. Bamco Inc. NY increased its position in ON by 243.0% during the third quarter. Bamco Inc. NY now owns 3,028,002 shares of the company's stock valued at $84,239,000 after acquiring an additional 2,145,318 shares during the last quarter. Finally, Invesco Ltd. increased its position in ON by 2.7% during the third quarter. Invesco Ltd. now owns 2,908,297 shares of the company's stock valued at $80,909,000 after acquiring an additional 76,518 shares during the last quarter. Hedge funds and other institutional investors own 33.11% of the company's stock.

ON Company Profile

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.