On Holding AG (NYSE:ONON) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of On Holding AG (NYSE:ONON) have earned a consensus recommendation of “Moderate Buy” from the twenty-four brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $58.6190.

ONON has been the subject of several analyst reports. BTIG Research restated a “buy” rating and issued a $70.00 target price on shares of ON in a research note on Tuesday, March 3rd. Williams Trading downgraded shares of ON from a “buy” rating to a “hold” rating and decreased their target price for the company from $55.00 to $47.00 in a research note on Thursday, January 8th. Needham & Company LLC restated a “buy” rating and issued a $52.00 target price on shares of ON in a research note on Thursday, February 26th. Telsey Advisory Group decreased their target price on shares of ON from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Finally, KeyCorp restated an “overweight” rating on shares of ON in a research note on Wednesday, March 4th.

ON Price Performance

ONON opened at $36.56 on Friday. The company has a quick ratio of 2.13, a current ratio of 2.71 and a debt-to-equity ratio of 0.27. ON has a 52-week low of $31.41 and a 52-week high of $61.29. The company has a 50 day moving average of $39.48 and a two-hundred day moving average of $42.51. The company has a market cap of $23.33 billion, a P/E ratio of 50.78, a P/E/G ratio of 0.74 and a beta of 2.23.

Insider Transactions at ON

In related news, CEO Martin Hoffmann sold 4,150 shares of the company’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $36.56, for a total value of $151,724.00. Following the sale, the chief executive officer directly owned 1,389,249 shares of the company’s stock, valued at $50,790,943.44. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,600 shares of company stock valued at $597,102 over the last 90 days. Corporate insiders own 68.57% of the company’s stock.

Institutional Trading of ON

Institutional investors have recently added to or reduced their stakes in the stock. Caitlin John LLC acquired a new stake in ON in the fourth quarter valued at $25,000. Cullen Frost Bankers Inc. raised its holdings in ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after acquiring an additional 467 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in ON in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd raised its holdings in ON by 555.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after acquiring an additional 594 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in ON by 109.9% in the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock valued at $37,000 after acquiring an additional 421 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

About ON

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.