ON Sees Unusually Large Options Volume (NYSE:ONON)

On Holding AG (NYSE:ONON) saw some unusual options trading on Friday. Investors bought 85,275 call options on the company. This represents an increase of approximately 298% compared to the typical volume of 21,450 call options.

Institutional Investors Weigh In On ON

A number of hedge funds have recently modified their holdings of the business. Montag A & Associates Inc. bought a new position in ON during the 1st quarter worth about $26,000. TCTC Holdings LLC grew its holdings in shares of ON by 118.4% during the first quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock worth $26,000 after buying an additional 315 shares in the last quarter. Washington Trust Advisors Inc. bought a new position in shares of ON during the second quarter worth about $29,000. Smartleaf Asset Management LLC raised its position in ON by 3,392.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock valued at $42,000 after buying an additional 916 shares during the last quarter. Finally, Ramirez Asset Management Inc. bought a new stake in ON in the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Down 2.9%

NYSE:ONON traded down $1.03 during mid-day trading on Friday, reaching $34.49. The stock had a trading volume of 4,913,531 shares, compared to its average volume of 5,482,191. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. The stock has a market cap of $21.71 billion, a P/E ratio of 76.63, a PEG ratio of 4.48 and a beta of 2.18. The business’s 50 day moving average is $42.43 and its 200 day moving average is $48.41. ON has a fifty-two week low of $34.38 and a fifty-two week high of $64.05.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.35). The company had revenue of $944.29 million for the quarter, compared to analyst estimates of $707.74 million. ON had a net margin of 4.45% and a return on equity of 8.75%. The company’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same quarter last year, the business earned $0.14 EPS. ON has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that ON will post 0.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ONON shares. Zacks Research downgraded ON from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Jefferies Financial Group set a $40.00 price objective on ON and gave the stock an “underperform” rating in a report on Wednesday, August 13th. Raymond James Financial decreased their target price on shares of ON from $66.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 21st. BTIG Research restated a “buy” rating and set a $70.00 price target on shares of ON in a report on Tuesday. Finally, UBS Group upped their price target on shares of ON from $75.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.05.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.