Brokerages Set On Holding AG (NYSE:ONON) Price Target at $61.27

Shares of On Holding AG (NYSE:ONON) have received an average rating of “Moderate Buy” from the twenty-six brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $60.5909.

Several brokerages recently issued reports on ONON. BTIG Research reiterated a “buy” rating and set a $70.00 price target on shares of ON in a research report on Tuesday, November 4th. Williams Trading lowered shares of ON from a “buy” rating to a “hold” rating and reduced their target price for the stock from $55.00 to $47.00 in a research report on Thursday. Bank of America increased their price target on shares of ON from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. TD Cowen boosted their price objective on shares of ON from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, JPMorgan Chase & Co. upped their price objective on ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th.

Institutional Trading of ON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. acquired a new position in ON during the 2nd quarter valued at about $29,000. United Financial Planning Group LLC acquired a new position in ON in the third quarter valued at approximately $42,000. Horizon Investments LLC bought a new position in ON in the third quarter valued at approximately $44,000. GAMMA Investing LLC grew its holdings in ON by 5,888.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock worth $46,000 after acquiring an additional 1,060 shares during the period. Finally, Ramirez Asset Management Inc. raised its position in shares of ON by 20.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock valued at $62,000 after acquiring an additional 200 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Trading Down 3.0%

Shares of ONON opened at $49.10 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55. The company has a market cap of $30.83 billion, a price-to-earnings ratio of 63.77, a PEG ratio of 1.47 and a beta of 2.15. The stock has a fifty day moving average price of $44.59 and a two-hundred day moving average price of $45.74. ON has a 52-week low of $34.38 and a 52-week high of $64.05.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.