Analysts Set On Holding AG (NYSE:ONON) PT at $56.05

Shares of On Holding AG (NYSE:ONON) have earned an average rating of “Moderate Buy” from the twenty-three ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $56.05.

ONON has been the subject of several research reports. Needham & Company LLC started coverage on shares of ON in a report on Friday, November 22nd. They set a “buy” rating and a $64.00 price objective for the company. Morgan Stanley raised their price target on ON from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Williams Trading raised ON from a “hold” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $60.00 in a report on Wednesday, November 13th. Truist Financial raised their target price on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird boosted their price target on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th.

Institutional Trading of ON

Large investors have recently made changes to their positions in the stock. 1832 Asset Management L.P. increased its holdings in ON by 66,838.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after purchasing an additional 2,406,200 shares during the period. Acadian Asset Management LLC increased its stake in shares of ON by 574.3% during the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock valued at $59,878,000 after buying an additional 1,315,006 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of ON in the second quarter valued at about $43,456,000. Renaissance Technologies LLC bought a new stake in shares of ON in the second quarter valued at about $27,975,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in ON by 100.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after acquiring an additional 642,894 shares during the period. 33.11% of the stock is owned by hedge funds and other institutional investors.

ON Stock Performance

Shares of NYSE:ONON opened at $57.64 on Wednesday. The firm has a market cap of $36.29 billion, a price-to-earnings ratio of 134.05 and a beta of 2.30. The firm has a fifty day moving average price of $51.96 and a 200 day moving average price of $45.60. ON has a fifty-two week low of $25.78 and a fifty-two week high of $60.12.

About ON

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.