ON (NYSE:ONON) Hits New 52-Week High – Time to Buy?

Shares of On Holding AG (NYSE:ONON) reached a new 52-week high on Tuesday . The stock traded as high as $62.37 and last traded at $62.52, with a volume of 1690873 shares. The stock had previously closed at $59.90.

Analyst Ratings Changes

Several analysts have issued reports on ONON shares. Williams Trading upgraded ON from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $60.00 in a report on Wednesday, November 13th. Raymond James upgraded ON from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $58.00 to $63.00 in a report on Thursday, November 21st. BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Wednesday, November 13th. Barclays increased their price objective on ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 target price on shares of ON in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus price target of $59.73.

ON Stock Up 4.0 %

The company has a market capitalization of $39.23 billion, a price-to-earnings ratio of 144.54, a price-to-earnings-growth ratio of 1.19 and a beta of 2.30. The company’s fifty day simple moving average is $56.85 and its two-hundred day simple moving average is $49.85.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ONON. Cerity Partners LLC boosted its position in ON by 189.9% during the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock valued at $36,083,000 after purchasing an additional 471,323 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of ON by 338.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock worth $29,834,000 after purchasing an additional 459,157 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of ON by 27.4% in the 4th quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock valued at $112,259,000 after buying an additional 440,685 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of ON in the third quarter valued at $10,263,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in ON during the fourth quarter worth $10,954,000. 36.39% of the stock is owned by institutional investors and hedge funds.

About ON

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