ON (NYSE:ONON) Reaches New 12-Month High - Time to Buy?

On Holding AG (NYSE:ONON - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as $48.20 and last traded at $48.11, with a volume of 3408104 shares traded. The stock had previously closed at $47.90.

Analysts Set New Price Targets

ONON has been the subject of several analyst reports. UBS Group increased their price objective on shares of ON from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Williams Trading increased their price target on ON from $60.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. The Goldman Sachs Group cut ON from a "buy" rating to a "neutral" rating and set a $57.00 price objective on the stock. in a research report on Wednesday, February 12th. Morgan Stanley upped their price objective on ON from $62.00 to $66.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Finally, Citigroup upgraded shares of ON from a "neutral" rating to a "buy" rating and reduced their price target for the company from $65.00 to $60.00 in a research report on Monday, April 28th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $58.77.

ON Price Performance

The business's fifty day moving average price is $45.18 and its 200-day moving average price is $51.42. The stock has a market capitalization of $30.76 billion, a PE ratio of 113.63, a P/E/G ratio of 1.02 and a beta of 2.32.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ONON. Capital Advisors Inc. OK boosted its stake in ON by 3.2% during the fourth quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company's stock valued at $350,000 after buying an additional 200 shares during the period. Keystone Investors PTE Ltd. grew its holdings in shares of ON by 0.8% during the fourth quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company's stock worth $1,639,000 after purchasing an additional 228 shares in the last quarter. CWM LLC increased its position in shares of ON by 22.2% in the first quarter. CWM LLC now owns 1,259 shares of the company's stock worth $55,000 after purchasing an additional 229 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in ON by 2.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company's stock valued at $516,000 after purchasing an additional 259 shares in the last quarter. Finally, Sage Capital Advisors llc lifted its position in ON by 0.3% during the first quarter. Sage Capital Advisors llc now owns 100,329 shares of the company's stock valued at $4,406,000 after purchasing an additional 269 shares during the last quarter. 36.39% of the stock is owned by institutional investors.

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, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.