ON (NYSE:ONON) Sets New 1-Year High at $44.83

On Holding AG (NYSE:ONON) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $44.83 and last traded at $44.80, with a volume of 1224006 shares trading hands. The stock had previously closed at $43.19.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ONON. Raymond James started coverage on shares of ON in a report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 price objective for the company. The Goldman Sachs Group lifted their price target on ON from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Evercore ISI upgraded ON to an “overweight” rating and raised their target price for the stock from $43.00 to $47.00 in a research note on Monday, August 12th. TD Cowen increased their price target on shares of ON from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Piper Sandler restated an “overweight” rating and issued a $52.00 price objective on shares of ON in a research report on Friday. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.83.

ON Price Performance

The company has a 50 day simple moving average of $39.58 and a 200-day simple moving average of $36.26. The stock has a market cap of $27.99 billion, a P/E ratio of 101.30, a price-to-earnings-growth ratio of 1.22 and a beta of 2.22.

Institutional Trading of ON

Several hedge funds and other institutional investors have recently bought and sold shares of ONON. J.W. Cole Advisors Inc. bought a new stake in shares of ON in the 4th quarter worth approximately $360,000. Stevens Capital Management LP purchased a new stake in ON during the fourth quarter valued at about $226,000. California First Leasing Corp grew its stake in shares of ON by 112.9% during the fourth quarter. California First Leasing Corp now owns 36,200 shares of the company’s stock valued at $976,000 after buying an additional 19,200 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of ON by 205.4% during the fourth quarter. Russell Investments Group Ltd. now owns 325,731 shares of the company’s stock valued at $8,785,000 after buying an additional 219,091 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors increased its holdings in shares of ON by 3.7% in the fourth quarter. Vanguard Capital Wealth Advisors now owns 44,500 shares of the company’s stock worth $1,200,000 after buying an additional 1,600 shares during the period. Hedge funds and other institutional investors own 33.11% of the company’s stock.

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.