Zurcher Kantonalbank Zurich Cantonalbank Buys 37,804 Shares of On Holding AG (NYSE:ONON)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in On Holding AG (NYSE:ONON) by 472.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,800 shares of the company’s stock after purchasing an additional 37,804 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ON were worth $2,508,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Private Trust Co. NA bought a new position in shares of ON in the third quarter worth about $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of ON in the third quarter worth about $29,000. Legacy Bridge LLC bought a new position in shares of ON in the fourth quarter worth about $43,000. Arcadia Investment Management Corp MI bought a new position in shares of ON in the fourth quarter worth about $53,000. Finally, VisionPoint Advisory Group LLC bought a new position in shares of ON in the fourth quarter worth about $65,000. 36.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of ON in a research note on Tuesday, March 4th. Stifel Nicolaus upped their price objective on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Citigroup assumed coverage on shares of ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective for the company. UBS Group upped their price objective on shares of ON from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley upped their price objective on shares of ON from $62.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Two investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $61.90.

ON Stock Up 0.1 %

Shares of ON stock opened at $46.41 on Monday. The firm has a market capitalization of $29.22 billion, a P/E ratio of 107.93, a PEG ratio of 1.02 and a beta of 2.35. The company has a 50 day moving average price of $53.94 and a 200 day moving average price of $52.66. On Holding AG has a 52 week low of $29.84 and a 52 week high of $64.05.

ON Company Profile

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.