On Holding AG (NYSE:ONON) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment is moderately bullish: Twenty-two firms give On Holding an average “Moderate Buy” rating, with a consensus 12-month price target of approximately $53.79.
• Insiders are buying shares: The company’s two CEOs each purchased 60,000 shares, while insiders acquired 180,000 shares worth $6.59 million over the past 90 days.
• Recent results exceeded expectations: On reported quarterly EPS of $0.46 versus the $0.35 consensus and revenue of $1.04 billion, up 14.5% year over year; shares opened at $35.89, near the lower end of their 52-week range.

Shares of On Holding AG (NYSE:ONON - Get Free Report) have received an average recommendation of "Moderate Buy" from the twenty-two ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, fifteen have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $53.7895.

A number of brokerages have issued reports on ONON. Guggenheim reaffirmed a "buy" rating and issued a $51.00 target price on shares of ON in a research report on Wednesday, May 13th. Truist Financial decreased their price target on shares of ON from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Tuesday, May 12th. JPMorgan Chase & Co. began coverage on shares of ON in a research note on Thursday, July 2nd. They issued an "overweight" rating and a $51.00 price target for the company. Barclays cut their price target on shares of ON from $57.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. Finally, Wall Street Zen downgraded shares of ON from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th.

Insider Transactions at ON

In other news, CEO David Michael Allemann acquired 60,000 shares of the business's stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the purchase, the chief executive officer directly owned 2,841,108 shares of the company's stock, valued at $104,069,786.04. This represents a 2.16% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Caspar Felix Coppetti bought 60,000 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the transaction, the chief executive officer owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This represents a 2.59% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 180,000 shares of company stock valued at $6,594,000.

Hedge Funds Weigh In On ON

A number of hedge funds have recently added to or reduced their stakes in the business. Bison Wealth LLC raised its holdings in shares of ON by 35.7% during the fourth quarter. Bison Wealth LLC now owns 9,291 shares of the company's stock worth $509,000 after purchasing an additional 2,442 shares during the period. Prudential Financial Inc. acquired a new position in shares of ON in the 2nd quarter valued at about $517,000. Invesco Ltd. grew its position in shares of ON by 305.5% during the 2nd quarter. Invesco Ltd. now owns 157,281 shares of the company's stock valued at $8,186,000 after buying an additional 118,498 shares during the last quarter. Cresset Asset Management LLC raised its stake in ON by 13.5% during the second quarter. Cresset Asset Management LLC now owns 7,232 shares of the company's stock worth $376,000 after acquiring an additional 860 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in ON by 91.7% during the second quarter. Daiwa Securities Group Inc. now owns 2,661 shares of the company's stock worth $139,000 after acquiring an additional 1,273 shares during the period. Institutional investors and hedge funds own 36.39% of the company's stock.

ON Stock Up 0.2%

Shares of NYSE ONON opened at $35.89 on Monday. ON has a 1 year low of $31.41 and a 1 year high of $52.41. The firm has a market cap of $22.90 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 0.67 and a beta of 2.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98. The stock's 50-day simple moving average is $37.67 and its 200-day simple moving average is $39.65.

ON (NYSE:ONON - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The company's revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that ON will post 1.5 earnings per share for the current fiscal year.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.

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