ON (NYSE:ONON) Sets New 1-Year Low – Time to Sell?

On Holding AG (NYSE:ONON)’s share price reached a new 52-week low on Friday . The company traded as low as $34.38 and last traded at $34.5510, with a volume of 4319109 shares trading hands. The stock had previously closed at $35.51.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ONON shares. TD Cowen reduced their price objective on shares of ON from $63.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. The Goldman Sachs Group set a $50.00 target price on shares of ON in a report on Monday, October 27th. Jefferies Financial Group set a $40.00 price target on shares of ON and gave the stock an “underperform” rating in a research note on Wednesday, August 13th. Barclays boosted their price objective on shares of ON from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 target price on shares of ON in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, ON presently has an average rating of “Moderate Buy” and an average price target of $63.05.

ON Trading Down 2.7%

The firm has a fifty day moving average of $42.43 and a 200-day moving average of $48.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. The stock has a market capitalization of $21.76 billion, a price-to-earnings ratio of 76.93, a P/E/G ratio of 4.48 and a beta of 2.18.

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

Institutional Trading of ON

A number of hedge funds have recently made changes to their positions in ONON. Winslow Capital Management LLC purchased a new position in shares of ON in the second quarter valued at $248,113,000. Sands Capital Management LLC acquired a new position in ON in the 2nd quarter worth $240,177,000. Jennison Associates LLC boosted its position in ON by 136.6% in the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock valued at $212,943,000 after buying an additional 2,798,794 shares during the last quarter. Norges Bank purchased a new position in ON in the 2nd quarter valued at about $138,641,000. Finally, Alliancebernstein L.P. grew its stake in shares of ON by 13.9% during the first quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after acquiring an additional 2,416,534 shares in 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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.