Traders Buy High Volume of ON Call Options (NYSE:ONON)

On Holding AG (NYSE:ONON) saw unusually large options trading activity on Friday. Stock investors bought 23,091 call options on the stock. This is an increase of 81% compared to the average volume of 12,726 call options.

Analyst Ratings Changes

ONON has been the topic of several analyst reports. Williams Trading lifted their target price on shares of ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Bank of America initiated coverage on shares of ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 target price on the stock. Citigroup began coverage on shares of ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price on the stock. Stifel Nicolaus lifted their price target on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, KeyCorp reiterated an “overweight” rating and issued a $68.00 price target on shares of ON in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, ON currently has a consensus rating of “Buy” and an average target price of $61.90.

ON Stock Performance

Shares of ONON traded up $0.48 during trading hours on Friday, hitting $46.04. The company had a trading volume of 2,971,870 shares, compared to its average volume of 4,332,765. The firm has a fifty day moving average price of $53.26 and a 200-day moving average price of $52.57. The stock has a market capitalization of $28.99 billion, a price-to-earnings ratio of 107.21, a P/E/G ratio of 1.02 and a beta of 2.35. ON has a 52-week low of $29.84 and a 52-week high of $64.05.

Hedge Funds Weigh In On ON

Several large investors have recently modified their holdings of ONON. FMR LLC raised its position in ON by 1.6% in the 4th quarter. FMR LLC now owns 28,875,965 shares of the company’s stock worth $1,581,537,000 after buying an additional 462,738 shares during the last quarter. Alliancebernstein L.P. raised its position in ON by 2.8% in the 4th quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company’s stock worth $951,808,000 after buying an additional 471,805 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in ON by 0.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company’s stock worth $184,109,000 after buying an additional 18,752 shares during the last quarter. Norges Bank purchased a new position in ON in the 4th quarter worth about $164,574,000. Finally, Jennison Associates LLC raised its position in ON by 27.4% in the 4th quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock worth $112,259,000 after buying an additional 440,685 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

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, 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.