Asio Capital LLC Decreases Stock Holdings in On Holding AG (NYSE:ONON)

Asio Capital LLC lowered its position in On Holding AG (NYSE:ONON) by 11.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,111 shares of the company’s stock after selling 6,164 shares during the period. Asio Capital LLC’s holdings in ON were worth $2,312,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Quarry LP acquired a new stake in ON in the second quarter valued at approximately $32,000. WD Rutherford LLC purchased a new stake in shares of ON during the 1st quarter valued at $52,000. Asset Dedication LLC boosted its position in shares of ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after purchasing an additional 327 shares in the last quarter. Orion Capital Management LLC boosted its position in shares of ON by 106.7% in the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock worth $88,000 after purchasing an additional 1,280 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in ON by 24.0% during the 2nd quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock worth $98,000 after buying an additional 500 shares during the last quarter. Institutional investors own 33.11% of the company’s stock.

ON Trading Up 0.1 %

Shares of ONON stock opened at $50.00 on Friday. The stock has a 50 day moving average of $46.32 and a 200 day moving average of $40.32. On Holding AG has a twelve month low of $23.41 and a twelve month high of $52.80. The stock has a market cap of $31.48 billion, a P/E ratio of 94.34 and a beta of 2.24.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The business had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. On average, research analysts predict that On Holding AG will post 0.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America raised ON from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $21.00 to $55.00 in a report on Monday, September 23rd. Barclays boosted their target price on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Evercore ISI upgraded shares of ON to an “overweight” rating and upped their price target for the company from $43.00 to $47.00 in a research note on Monday, August 12th. Truist Financial lifted their price objective on shares of ON from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus upped their target price on ON from $45.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.74.

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.