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

Key Points

• On Holding AG (NYSE: ONON) received an average recommendation of “Moderate Buy” from 22 analysts, with 19 analysts rating the stock as a buy and 1 as strong buy.
• The average target price among analysts covering ONON is $64.20, while individual targets range from $40.00 to $79.00.
• Currently, institutional investors own 36.39% of the company's stock, with several firms like Montag A & Associates Inc. and Smartleaf Asset Management LLC increasing their holdings significantly.

On Holding AG (NYSE:ONON - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twenty-two brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $64.20.

A number of equities research analysts have weighed in on ONON shares. Needham & Company LLC restated a "buy" rating and issued a $62.00 target price on shares of ON in a research report on Tuesday, August 12th. Morgan Stanley upped their target price on ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Jefferies Financial Group set a $40.00 target price on ON and gave the stock an "underperform" rating in a research report on Wednesday, August 13th. UBS Group upped their target price on ON from $75.00 to $79.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Finally, Barclays upped their price target on ON from $68.00 to $69.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th.

ON Stock Performance

ONON opened at $43.55 on Tuesday. The company has a market capitalization of $27.42 billion, a price-to-earnings ratio of 96.78, a price-to-earnings-growth ratio of 5.48 and a beta of 2.23. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. ON has a 1-year low of $34.59 and a 1-year high of $64.05. The business has a 50 day moving average price of $46.03 and a two-hundred day moving average price of $49.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Montag A & Associates Inc. bought a new position in shares of ON in the first quarter valued at $26,000. TCTC Holdings LLC increased its holdings in shares of ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after buying an additional 315 shares in the last quarter. Washington Trust Advisors Inc. bought a new position in shares of ON in the second quarter valued at $29,000. MassMutual Private Wealth & Trust FSB bought a new position in shares of ON in the first quarter valued at $32,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of ON by 3,392.6% in the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company's stock valued at $42,000 after buying an additional 916 shares in the last quarter. 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.

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