Shares of On Holding AG (NYSE:ONON - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $63.62, but opened at $60.80. ON shares last traded at $60.23, with a volume of 1,051,880 shares.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on ONON shares. Citigroup initiated coverage on ON in a research note on Wednesday, December 18th. They set a "neutral" rating and a $65.00 price target on the stock. Morgan Stanley boosted their price target on ON from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. KeyCorp upped their price target on ON from $60.00 to $68.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. Stifel Nicolaus lifted their target price on shares of ON from $60.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Finally, Bank of America assumed coverage on ON in a research note on Tuesday, January 7th. They issued a "buy" rating and a $73.00 price objective for the company. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, ON currently has a consensus rating of "Moderate Buy" and an average price target of $59.73.
Get Our Latest Research Report on ON
ON Stock Performance
The business's 50 day simple moving average is $57.40 and its 200-day simple moving average is $50.65. The stock has a market capitalization of $36.69 billion, a price-to-earnings ratio of 135.53, a price-to-earnings-growth ratio of 1.21 and a beta of 2.30.
Institutional Trading of ON
Several hedge funds have recently added to or reduced their stakes in ONON. RB Capital Management LLC boosted its holdings in shares of ON by 214.8% in the third quarter. RB Capital Management LLC now owns 22,426 shares of the company's stock valued at $1,125,000 after acquiring an additional 15,303 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in ON by 584.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company's stock valued at $4,195,000 after purchasing an additional 71,436 shares in the last quarter. Forte Capital LLC ADV acquired a new position in shares of ON during the 3rd quarter valued at $742,000. Harvest Fund Management Co. Ltd bought a new stake in shares of ON in the 3rd quarter worth $658,000. Finally, Principal Financial Group Inc. lifted 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 valued at $5,104,000 after acquiring an additional 49,995 shares during the last quarter. Institutional investors own 36.39% of the company's stock.
ON Company Profile
(
Get Free Report)
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.
Featured Stories
Before you consider ON, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ON wasn't on the list.
While ON currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
