On Holding AG (NYSE:ONON - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $58.82, but opened at $56.10. ON shares last traded at $58.88, with a volume of 1,299,238 shares.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the company. Citigroup upgraded ON from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $65.00 to $60.00 in a research report on Monday, April 28th. UBS Group set a $75.00 price target on shares of ON in a research report on Wednesday, May 14th. Raymond James reaffirmed a "strong-buy" rating on shares of ON in a research note on Wednesday, May 14th. HSBC raised ON from a "hold" rating to a "buy" rating and set a $58.00 price target on the stock in a research note on Tuesday, March 11th. Finally, Piper Sandler reiterated an "overweight" rating on shares of ON in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $62.45.
Read Our Latest Stock Report on ON
ON Price Performance
The stock has a market capitalization of $37.67 billion, a price-to-earnings ratio of 139.12, a PEG ratio of 1.02 and a beta of 2.30. The firm's fifty day moving average is $47.93 and its 200-day moving average is $52.25.
Institutional Trading of ON
Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its position in ON by 1.6% in the 4th quarter. FMR LLC now owns 28,875,965 shares of the company's stock valued at $1,581,537,000 after acquiring an additional 462,738 shares during the period. Alliancebernstein L.P. increased its stake in ON by 13.9% in the 1st quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company's stock worth $869,388,000 after purchasing an additional 2,416,534 shares in the last quarter. Jennison Associates LLC increased its position in shares of ON by 136.6% in the first quarter. Jennison Associates LLC now owns 4,848,438 shares of the company's stock worth $212,943,000 after acquiring an additional 2,798,794 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in ON by 1.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,395,611 shares of the company's stock worth $149,136,000 after purchasing an additional 34,120 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of ON during the fourth quarter valued at $164,574,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.
About ON
(
Get Free Report)
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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