ON (NYSE:ONON) Reaches New 12-Month High - Time to Buy?

On Holding AG (NYSE:ONON - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $53.62 and last traded at $52.68, with a volume of 1169322 shares trading hands. The stock had previously closed at $51.49.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. HSBC assumed coverage on shares of ON in a research report on Thursday, September 5th. They issued a "hold" rating and a $52.00 price objective for the company. UBS Group lifted their price objective on shares of ON from $55.00 to $61.00 and gave the company a "buy" rating in a research report on Monday, November 4th. KeyCorp raised their target price on shares of ON from $47.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, September 26th. Raymond James initiated coverage on shares of ON in a research note on Wednesday, July 31st. They set an "outperform" rating and a $46.00 target price for the company. Finally, Hsbc Global Res upgraded shares of ON to a "hold" rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, ON has a consensus rating of "Moderate Buy" and a consensus target price of $50.37.

ON Stock Performance

The stock's fifty day moving average price is $48.97 and its two-hundred day moving average price is $42.76. The company has a market cap of $33.19 billion, a P/E ratio of 99.45 and a beta of 2.25.

ON (NYSE:ONON - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The firm had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. On average, equities research analysts forecast that On Holding AG will post 0.75 EPS for the current year.

Institutional Trading of ON

A number of institutional investors and hedge funds have recently made changes to their positions in ONON. Blue Trust Inc. lifted its stake in ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company's stock valued at $27,000 after purchasing an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in ON by 210.5% in the 3rd 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 ON in the 3rd quarter valued at approximately $29,000. Quarry LP bought a new position in ON in the 2nd quarter valued at approximately $32,000. Finally, MFA Wealth Advisors LLC bought a new position in ON in the 3rd quarter valued at approximately $50,000. Institutional investors own 33.11% of the company's stock.

ON Company Profile

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.