Wealth Enhancement Advisory Services LLC Acquires 1,899 Shares of On Holding AG (NYSE:ONON)

Wealth Enhancement Advisory Services LLC boosted its position in On Holding AG (NYSE:ONON) by 11.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 18,002 shares of the company’s stock after purchasing an additional 1,899 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in ON were worth $903,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC grew its position in ON by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock worth $924,000 after purchasing an additional 300 shares in the last quarter. Artemis Investment Management LLP boosted its stake in ON by 1.9% in the second quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock valued at $637,000 after acquiring an additional 302 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in ON by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock valued at $404,000 after acquiring an additional 325 shares during the last quarter. Asset Dedication LLC boosted its stake in ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after acquiring an additional 327 shares during the last quarter. Finally, Sage Capital Advisors llc boosted its stake in ON by 0.3% in the third quarter. Sage Capital Advisors llc now owns 99,859 shares of the company’s stock valued at $5,008,000 after acquiring an additional 328 shares during the last quarter. 33.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group boosted their target price on shares of ON from $55.00 to $61.00 and gave the company a “buy” rating in a research note on Monday. Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $21.00 to $55.00 in a research note on Monday, September 23rd. Raymond James assumed coverage on shares of ON in a research note on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 target price on the stock. Telsey Advisory Group restated an “outperform” rating and set a $47.00 price target on shares of ON in a research note on Tuesday, August 13th. Finally, Barclays upped their price target on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.05.

ON Stock Performance

Shares of NYSE ONON opened at $47.88 on Wednesday. The firm’s 50 day moving average price is $48.67 and its 200-day moving average price is $42.24. The company has a market cap of $30.15 billion, a PE ratio of 90.34 and a beta of 2.25. On Holding AG has a 52-week low of $24.15 and a 52-week high of $52.80.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The company had revenue of $627.66 million for the quarter, compared to analysts’ expectations of $634.43 million. On average, analysts forecast that On Holding AG will post 0.76 earnings per share for the current fiscal year.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.