ON (NYSE:ONON) Shares Up 6.4% – Still a Buy?

On Holding AG (NYSE:ONON)’s share price was up 6.4% on Friday . The company traded as high as $37.38 and last traded at $40.05. Approximately 4,431,329 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 4,478,766 shares. The stock had previously closed at $37.65.

Analyst Ratings Changes

Several analysts have issued reports on ONON shares. Williams Trading raised their price target on shares of ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. KeyCorp reissued an “overweight” rating and set a $68.00 target price on shares of ON in a research report on Wednesday, March 5th. TD Cowen boosted their price target on ON from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. UBS Group raised their price objective on ON from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Bank of America began coverage on ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.45.

ON Trading Up 5.1 %

The firm has a market capitalization of $24.91 billion, a price-to-earnings ratio of 92.00, a P/E/G ratio of 1.02 and a beta of 2.32. The firm has a fifty day moving average price of $50.36 and a 200 day moving average price of $52.40.

Institutional Trading of ON

Several large investors have recently made changes to their positions in ONON. Centiva Capital LP lifted its position in ON by 16.5% during the 3rd quarter. Centiva Capital LP now owns 12,377 shares of the company’s stock worth $621,000 after buying an additional 1,754 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of ON in the third quarter worth about $453,000. Stifel Financial Corp lifted its position in shares of ON by 5.3% during the third quarter. Stifel Financial Corp now owns 176,472 shares of the company’s stock worth $8,850,000 after purchasing an additional 8,892 shares in the last quarter. State Street Corp grew its stake in shares of ON by 1.8% during the third quarter. State Street Corp now owns 228,847 shares of the company’s stock valued at $11,477,000 after purchasing an additional 4,152 shares during the last quarter. Finally, Insigneo Advisory Services LLC acquired a new stake in shares of ON in the third quarter valued at approximately $329,000. Institutional investors own 36.39% of the company’s stock.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.