On Holding AG (NYSE:ONON) Receives $37.13 Consensus Target Price from Brokerages

On Holding AG (NYSE:ONON) has been assigned a consensus rating of “Moderate Buy” from the seventeen analysts that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $37.13.

Several equities analysts recently commented on ONON shares. Piper Sandler boosted their price target on ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Truist Financial boosted their price target on ON from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, March 13th. William Blair started coverage on ON in a research report on Tuesday, April 16th. They set an “outperform” rating on the stock. Evercore ISI reduced their price target on ON from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 13th. Finally, TheStreet lowered ON from a “c” rating to a “d+” rating in a research report on Monday, March 18th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. California First Leasing Corp grew its stake in ON by 179.3% during the 1st quarter. California First Leasing Corp now owns 101,100 shares of the company’s stock worth $3,577,000 after buying an additional 64,900 shares during the last quarter. Hedges Asset Management LLC grew its stake in ON by 21.2% during the 1st quarter. Hedges Asset Management LLC now owns 10,300 shares of the company’s stock worth $364,000 after buying an additional 1,800 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in ON by 29.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 38,632 shares of the company’s stock worth $1,367,000 after buying an additional 8,854 shares during the last quarter. Parsons Capital Management Inc. RI bought a new position in ON during the 1st quarter worth $260,000. Finally, Azzad Asset Management Inc. ADV grew its stake in ON by 0.7% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 164,107 shares of the company’s stock worth $5,806,000 after buying an additional 1,190 shares during the last quarter. 33.11% of the stock is currently owned by institutional investors.

ON Stock Performance

Shares of NYSE:ONON opened at $31.92 on Tuesday. ON has a 1 year low of $23.41 and a 1 year high of $37.08. The stock has a market capitalization of $20.10 billion, a P/E ratio of 118.30, a PEG ratio of 1.14 and a beta of 2.16. The stock has a 50-day simple moving average of $33.18 and a 200-day simple moving average of $29.52.

ON (NYSE:ONON) last issued its earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). ON had a return on equity of 6.85% and a net margin of 4.04%. The firm had revenue of $504.69 million for the quarter, compared to analysts’ expectations of $515.30 million. Analysts predict that ON will post 0.65 earnings per share for the current year.

ON Company Profile

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.