Main Street Financial Solutions LLC Increases Holdings in On Holding AG (NYSE:ONON)

Main Street Financial Solutions LLC increased its stake in shares of On Holding AG (NYSE:ONON) by 6.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,065 shares of the company’s stock after purchasing an additional 1,415 shares during the period. Main Street Financial Solutions LLC’s holdings in ON were worth $1,207,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ONON. Blue Trust Inc. lifted its holdings in shares of ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after buying an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. Quarry LP bought a new stake in ON during the 2nd quarter worth approximately $32,000. MFA Wealth Advisors LLC purchased a new stake in ON in the 3rd quarter worth approximately $50,000. Finally, Asset Dedication LLC boosted its holdings in ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares during the period. Institutional investors own 33.11% of the company’s stock.

Wall Street Analyst Weigh In

ONON has been the topic of a number of recent analyst reports. Robert W. Baird increased their price objective on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $53.00 price target on shares of ON in a report on Tuesday. The Goldman Sachs Group upped their price objective on shares of ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and raised their target price for the company from $21.00 to $55.00 in a research note on Monday, September 23rd. Finally, Truist Financial increased their price target on shares of ON from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.33.

ON Stock Up 0.2 %

Shares of NYSE ONON opened at $52.71 on Thursday. The firm’s fifty day moving average is $49.24 and its 200 day moving average is $42.97. On Holding AG has a 52 week low of $24.15 and a 52 week high of $56.44. The company has a market cap of $33.19 billion, a price-to-earnings ratio of 122.58 and a beta of 2.25.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. ON had a net margin of 5.87% and a return on equity of 11.02%. Equities research analysts anticipate that On Holding AG will post 0.75 earnings per share 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.