On Holding AG (NYSE:ONON) Receives Average Rating of “Moderate Buy” from Analysts

Shares of On Holding AG (NYSE:ONON) have earned an average recommendation of “Moderate Buy” from the twenty-four analysts that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $56.77.

Several analysts have weighed in on ONON shares. Telsey Advisory Group reissued an “outperform” rating and set a $53.00 price objective on shares of ON in a report on Tuesday, November 12th. Raymond James raised shares of ON from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $58.00 to $63.00 in a research note on Thursday, November 21st. UBS Group reaffirmed a “buy” rating and issued a $63.00 price objective on shares of ON in a research note on Friday, December 27th. Robert W. Baird increased their price target on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, TD Cowen raised their price target on ON from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Institutional Trading of ON

Hedge funds and other institutional investors have recently modified their holdings of the company. Private Trust Co. NA bought a new position in shares of ON during the third quarter worth about $26,000. Blue Trust Inc. grew its stake in shares of ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after acquiring an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of ON in the third quarter valued at approximately $29,000. Finally, Quarry LP bought a new stake in shares of ON in the second quarter worth $32,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Performance

Shares of ONON opened at $56.62 on Friday. The firm has a market capitalization of $35.65 billion, a price-to-earnings ratio of 131.68 and a beta of 2.30. ON has a 52 week low of $25.78 and a 52 week high of $60.12. The business’s fifty day moving average price is $54.62 and its two-hundred day moving average price is $47.64.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.