On Holding AG (NYSE:ONON) Receives Average Recommendation of "Buy" from Brokerages

Shares of On Holding AG (NYSE:ONON - Get Free Report) have received a consensus recommendation of "Buy" from the twenty-two analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $63.85.

ONON has been the subject of several recent research reports. Morgan Stanley lowered their price target on ON from $66.00 to $62.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Robert W. Baird upped their target price on ON from $63.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Piper Sandler reaffirmed an "overweight" rating on shares of ON in a research report on Tuesday, May 13th. KeyCorp upped their target price on ON from $60.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Finally, UBS Group set a $75.00 target price on ON in a research report on Wednesday, May 14th.

Institutional Investors Weigh In On ON

Several institutional investors and hedge funds have recently made changes to their positions in ONON. Montag A & Associates Inc. bought a new position in ON in the first quarter worth approximately $26,000. TCTC Holdings LLC increased its position in ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock worth $26,000 after buying an additional 315 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in ON in the fourth quarter worth $30,000. Park Square Financial Group LLC purchased a new stake in ON in the fourth quarter worth $32,000. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in ON in the first quarter worth $32,000. Institutional investors and hedge funds own 36.39% of the company's stock.

ON Price Performance

NYSE:ONON opened at $52.79 on Friday. The business's 50-day moving average price is $52.44 and its 200 day moving average price is $52.28. The firm has a market cap of $33.24 billion, a P/E ratio of 75.42, a PEG ratio of 3.01 and a beta of 2.35. ON has a 52-week low of $34.59 and a 52-week high of $64.05. The company has a quick ratio of 2.18, a current ratio of 2.80 and a debt-to-equity ratio of 0.19.

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.

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