On Holding AG (NYSE:ONON) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC grew its stake in On Holding AG (NYSE:ONON) by 12.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,640 shares of the company’s stock after acquiring an additional 8,463 shares during the quarter. HighTower Advisors LLC’s holdings in ON were worth $4,198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Trust Co. NA purchased a new stake in shares of ON in the third quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new stake in ON in the 4th quarter valued at about $30,000. Legacy Bridge LLC acquired a new position in shares of ON during the 4th quarter valued at about $43,000. Arcadia Investment Management Corp MI purchased a new position in shares of ON during the 4th quarter worth about $53,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in shares of ON in the fourth quarter worth approximately $65,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ONON. Morgan Stanley raised their target price on shares of ON from $62.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Barclays raised their target price on shares of ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Williams Trading raised their target price on shares of ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. KeyCorp reiterated an “overweight” rating and set a $68.00 target price on shares of ON in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group cut ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $61.90.

ON Stock Performance

Shares of ON stock opened at $45.56 on Friday. The firm has a market cap of $28.68 billion, a PE ratio of 105.94, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. The firm’s 50-day simple moving average is $53.26 and its 200-day simple moving average is $52.57. On Holding AG has a 1 year low of $29.84 and a 1 year high of $64.05.

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.