On Holding AG (NYSE:ONON) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of On Holding AG (NYSE:ONON - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twenty-four analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $60.00.

Several equities analysts have recently issued reports on the company. Williams Trading upped their target price on ON from $60.00 to $62.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. TD Cowen upped their price objective on ON from $65.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Barclays lifted their target price on ON from $63.00 to $64.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Needham & Company LLC decreased their price objective on shares of ON from $64.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, Piper Sandler dropped their target price on shares of ON from $62.00 to $55.00 and set an "overweight" rating on the stock in a research note on Friday.

ON Stock Up 1.1 %

ONON stock traded up $0.49 during trading on Tuesday, reaching $43.51. The stock had a trading volume of 4,352,427 shares, compared to its average volume of 4,670,422. The company has a market capitalization of $27.40 billion, a price-to-earnings ratio of 101.19, a P/E/G ratio of 1.02 and a beta of 2.32. ON has a one year low of $29.84 and a one year high of $64.05. The company's 50 day moving average is $47.73 and its two-hundred day moving average is $52.01.

Hedge Funds Weigh In On ON

Several hedge funds have recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in ON in the 4th quarter valued at $32,000. MassMutual Private Wealth & Trust FSB bought a new stake in ON during the first quarter valued at $32,000. Legacy Bridge LLC purchased a new position in ON during the fourth quarter worth about $43,000. Bernard Wealth Management Corp. bought a new position in ON in the 4th quarter worth about $44,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of ON in the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 36.39% of the company's stock.

ON Company Profile

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.