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

Shares of On Holding AG (NYSE:ONON - Get Free Report) have been assigned a consensus rating of "Buy" from the twenty-two research firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $63.85.

A number of equities analysts have weighed in on the company. Raymond James Financial reissued a "strong-buy" rating on shares of ON in a research report on Wednesday, May 14th. Morgan Stanley lowered their price objective on ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. KeyCorp raised their price objective on ON from $60.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Piper Sandler restated an "overweight" rating on shares of ON in a research note on Tuesday, May 13th. Finally, Barclays set a $68.00 price objective on ON in a research note on Wednesday, May 14th.

ON Stock Down 2.0%

Shares of NYSE:ONON traded down $1.10 during midday trading on Thursday, reaching $53.14. The company had a trading volume of 2,954,881 shares, compared to its average volume of 4,614,686. The company has a quick ratio of 2.18, a current ratio of 2.80 and a debt-to-equity ratio of 0.19. The business's 50 day moving average price is $55.40 and its 200 day moving average price is $51.81. The stock has a market cap of $33.46 billion, a PE ratio of 75.91, a P/E/G ratio of 2.97 and a beta of 2.25. ON has a 1-year low of $34.59 and a 1-year high of $64.05.

Hedge Funds Weigh In On ON

Several large investors have recently added to or reduced their stakes in the business. Park Square Financial Group LLC purchased a new stake in ON in the 4th quarter valued at about $32,000. TCTC Holdings LLC increased its stake in ON by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after buying an additional 315 shares during the last quarter. Montag A & Associates Inc. purchased a new stake in ON in the 1st quarter valued at about $26,000. MassMutual Private Wealth & Trust FSB purchased a new stake in ON in the 1st quarter valued at about $32,000. Finally, Bernard Wealth Management Corp. purchased a new stake in ON in the 4th quarter valued at about $44,000. Institutional investors own 36.39% of the company's stock.

About ON

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.