On Holding AG (NYSE:ONON) Shares Purchased by Americana Partners LLC

Americana Partners LLC lifted its holdings in On Holding AG (NYSE:ONON) by 43.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,060 shares of the company’s stock after purchasing an additional 2,424 shares during the quarter. Americana Partners LLC’s holdings in ON were worth $404,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after purchasing an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares during the period. Quarry LP acquired a new stake in ON during the 2nd quarter worth about $32,000. MFA Wealth Advisors LLC acquired a new stake in ON during the 3rd quarter worth about $50,000. Finally, nVerses Capital LLC acquired a new stake in ON during the 3rd quarter worth about $65,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Hsbc Global Res raised ON to a “hold” rating in a research report on Thursday, September 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $47.00 price target on shares of ON in a research report on Tuesday, August 13th. Evercore ISI raised ON to an “overweight” rating and lifted their price target for the stock from $43.00 to $47.00 in a research report on Monday, August 12th. Piper Sandler boosted their price objective on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Finally, Stifel Nicolaus boosted their price objective on ON from $45.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ON currently has an average rating of “Moderate Buy” and an average target price of $49.74.

ON Price Performance

ONON stock opened at $46.49 on Friday. The business has a 50 day simple moving average of $48.62 and a 200-day simple moving average of $41.81. The firm has a market capitalization of $29.27 billion, a PE ratio of 87.72 and a beta of 2.24. On Holding AG has a 1 year low of $24.15 and a 1 year high of $52.80.

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

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.