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

Shares of On Holding AG (NYSE:ONON - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty-three analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $56.05.

ONON has been the topic of several research reports. The Goldman Sachs Group boosted their price target on shares of ON from $50.00 to $57.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. BTIG Research raised shares of ON from a "neutral" rating to a "buy" rating and set a $64.00 price objective for the company in a research note on Wednesday, November 13th. TD Cowen lifted their price objective on shares of ON from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Morgan Stanley lifted their price objective on shares of ON from $44.00 to $46.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 14th. Finally, Hsbc Global Res raised shares of ON to a "hold" rating in a research note on Thursday, September 5th.

Hedge Funds Weigh In On ON

Hedge funds have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC increased its holdings in ON by 100.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company's stock worth $49,716,000 after buying an additional 642,894 shares during the period. Forte Capital LLC ADV acquired a new position in ON in the 3rd quarter worth approximately $742,000. Coronation Fund Managers Ltd. increased its holdings in ON by 248.6% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company's stock worth $6,010,000 after buying an additional 110,467 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in ON in the 3rd quarter worth approximately $658,000. Finally, Principal Financial Group Inc. increased its holdings in ON by 96.5% in the 3rd quarter. Principal Financial Group Inc. now owns 101,784 shares of the company's stock worth $5,104,000 after buying an additional 49,995 shares during the period. Institutional investors and hedge funds own 33.11% of the company's stock.

ON Trading Down 0.9 %

ONON traded down $0.55 during trading hours on Wednesday, hitting $58.99. The company's stock had a trading volume of 2,925,339 shares, compared to its average volume of 4,883,229. The business's 50-day moving average price is $51.50 and its 200-day moving average price is $45.27. ON has a 12 month low of $25.78 and a 12 month high of $59.84. The stock has a market cap of $37.14 billion, a price-to-earnings ratio of 138.49 and a beta of 2.30.

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.