On Holding AG (NYSE:ONON) Receives $45.83 Consensus Target Price from Analysts

Shares of On Holding AG (NYSE:ONON) have been assigned a consensus rating of “Moderate Buy” from the twenty analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $45.83.

A number of research analysts recently issued reports on the stock. Needham & Company LLC lifted their price target on shares of ON from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. lifted their price target on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. UBS Group lifted their price target on shares of ON from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Truist Financial boosted their price objective on shares of ON from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, TD Cowen boosted their price objective on shares of ON from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th.

Hedge Funds Weigh In On ON

A number of institutional investors and hedge funds have recently made changes to their positions in ONON. Russell Investments Group Ltd. grew its stake in shares of ON by 205.4% during the 4th quarter. Russell Investments Group Ltd. now owns 325,731 shares of the company’s stock worth $8,785,000 after purchasing an additional 219,091 shares during the period. Vanguard Capital Wealth Advisors grew its stake in shares of ON by 3.7% during the 4th quarter. Vanguard Capital Wealth Advisors now owns 44,500 shares of the company’s stock worth $1,200,000 after purchasing an additional 1,600 shares during the period. Arnhold LLC grew its stake in shares of ON by 4.8% during the 4th quarter. Arnhold LLC now owns 486,543 shares of the company’s stock worth $13,122,000 after purchasing an additional 22,500 shares during the period. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of ON during the 4th quarter worth $33,000. Finally, Victory Capital Management Inc. grew its stake in shares of ON by 22.2% during the 4th quarter. Victory Capital Management Inc. now owns 977,241 shares of the company’s stock worth $26,356,000 after purchasing an additional 177,280 shares during the period. 33.11% of the stock is owned by institutional investors and hedge funds.

ON Stock Performance

Shares of ONON stock opened at $46.98 on Monday. The stock has a market capitalization of $29.58 billion, a P/E ratio of 106.77, a price-to-earnings-growth ratio of 1.30 and a beta of 2.22. The company has a 50 day moving average price of $40.16 and a 200 day moving average price of $37.09. ON has a fifty-two week low of $23.41 and a fifty-two week high of $48.08.

About ON

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.