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

Shares of On Holding AG (NYSE:ONON - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-four research firms that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $56.77.

Several research analysts recently issued reports on ONON shares. Bank of America upgraded shares of ON from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. The Goldman Sachs Group raised their price target on shares of ON from $50.00 to $57.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Needham & Company LLC began coverage on ON in a research note on Friday, November 22nd. They issued a "buy" rating and a $64.00 target price for the company. UBS Group reaffirmed a "buy" rating and set a $63.00 price target on shares of ON in a research note on Friday. Finally, KeyCorp boosted their price objective on ON from $47.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, September 26th.

Institutional Trading of ON

A number of hedge funds and other institutional investors have recently made changes to their positions in ONON. Private Trust Co. NA bought a new stake in ON during the third quarter worth $26,000. Blue Trust Inc. lifted its position in ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company's stock worth $27,000 after acquiring an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of ON during the third quarter worth approximately $29,000. Finally, Quarry LP bought a new stake in ON in the 2nd quarter valued at $32,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Down 1.3 %

NYSE:ONON traded down $0.76 during trading hours on Friday, reaching $55.63. The company had a trading volume of 1,527,824 shares, compared to its average volume of 4,732,592. The firm has a market capitalization of $35.03 billion, a PE ratio of 129.38 and a beta of 2.30. The stock has a 50-day moving average of $53.94 and a two-hundred day moving average of $47.23. ON has a one year low of $25.78 and a one year 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.