ON (NYSE:ONON) Shares Down 3%

Shares of On Holding AG (NYSE:ONON) were down 3% during trading on Friday . The stock traded as low as $41.40 and last traded at $41.45. Approximately 712,663 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 5,227,666 shares. The stock had previously closed at $42.73.

Wall Street Analyst Weigh In

Several equities analysts have commented on ONON shares. Morgan Stanley raised their price target on shares of ON from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Stifel Nicolaus raised their price target on shares of ON from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday. The Goldman Sachs Group raised their price target on shares of ON from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $47.00 price objective on shares of ON in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, ON currently has an average rating of “Moderate Buy” and an average price target of $45.11.

ON Stock Down 1.3 %

The company has a market cap of $26.55 billion, a PE ratio of 95.50, a P/E/G ratio of 1.16 and a beta of 2.22. The firm’s fifty day simple moving average is $39.62 and its 200-day simple moving average is $35.72.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The company had revenue of $581.41 million during the quarter, compared to analyst estimates of $555.52 million. On average, analysts predict that On Holding AG will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Orion Capital Management LLC lifted its position in ON by 1,100.0% in the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock valued at $32,000 after purchasing an additional 1,100 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new position in ON during the 4th quarter valued at about $32,000. Quarry LP acquired a new position in shares of ON in the 2nd quarter worth approximately $32,000. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of ON in the 4th quarter worth approximately $33,000. Finally, Spire Wealth Management grew its stake in shares of ON by 66.2% in the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock worth $45,000 after purchasing an additional 643 shares during the last quarter. 33.11% of the stock is currently owned by institutional investors.

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.