On Holding AG $ONON Holdings Boosted by Wedbush Securities Inc.

Wedbush Securities Inc. grew its stake in shares of On Holding AG (NYSE:ONON) by 13.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,855 shares of the company’s stock after purchasing an additional 2,689 shares during the quarter. Wedbush Securities Inc.’s holdings in ON were worth $1,190,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Resona Asset Management Co. Ltd. acquired a new stake in shares of ON in the 2nd quarter worth about $83,000. First Horizon Advisors Inc. increased its position in ON by 11.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,859 shares of the company’s stock valued at $201,000 after acquiring an additional 405 shares during the period. Bank of New York Mellon Corp increased its position in ON by 773.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 345,428 shares of the company’s stock valued at $17,980,000 after acquiring an additional 305,894 shares during the period. Eleva Capital SAS bought a new stake in ON during the 2nd quarter valued at $1,027,000. Finally, Strs Ohio acquired a new position in ON during the 2nd quarter worth $1,220,000. 36.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ONON. Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 price objective on shares of ON in a report on Tuesday, August 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. Morgan Stanley increased their price target on ON from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Telsey Advisory Group reissued an “outperform” rating and issued a $65.00 price target on shares of ON in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group set a $40.00 price objective on shares of ON and gave the company an “underperform” rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, ON has an average rating of “Moderate Buy” and a consensus target price of $63.05.

ON Stock Performance

ONON stock opened at $35.01 on Monday. On Holding AG has a 12 month low of $34.38 and a 12 month high of $64.05. The firm has a 50 day moving average of $42.23 and a two-hundred day moving average of $48.44. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $22.04 billion, a price-to-earnings ratio of 77.79, a P/E/G ratio of 4.35 and a beta of 2.18.

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

ON 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.