On Holding AG (NYSE:ONON - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $44.92, but opened at $37.50. ON shares last traded at $38.71, with a volume of 5,225,822 shares traded.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. The Goldman Sachs Group cut shares of ON from a "buy" rating to a "neutral" rating and set a $57.00 price objective for the company. in a report on Wednesday, February 12th. Jefferies Financial Group initiated coverage on ON in a research report on Tuesday, April 1st. They set a "hold" rating and a $44.00 price objective on the stock. Stifel Nicolaus lifted their target price on ON from $60.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Williams Trading upped their price target on ON from $60.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, Needham & Company LLC decreased their price objective on ON from $64.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $60.45.
Get Our Latest Research Report on ON
ON Stock Performance
The company's 50-day simple moving average is $49.98 and its 200-day simple moving average is $52.37. The company has a market capitalization of $24.38 billion, a PE ratio of 89.70, a P/E/G ratio of 1.02 and a beta of 2.32.
Institutional Trading of ON
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC acquired a new position in shares of ON in the third quarter valued at approximately $453,000. Stifel Financial Corp raised its position in ON by 5.3% during the 3rd quarter. Stifel Financial Corp now owns 176,472 shares of the company's stock worth $8,850,000 after buying an additional 8,892 shares during the last quarter. State Street Corp raised its position in ON by 1.8% during the 3rd quarter. State Street Corp now owns 228,847 shares of the company's stock worth $11,477,000 after buying an additional 4,152 shares during the last quarter. Insigneo Advisory Services LLC acquired a new stake in shares of ON in the 3rd quarter worth $329,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of ON in the third quarter valued at about $258,000. 36.39% of the stock is owned by hedge funds and other institutional investors.
ON Company Profile
(
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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.
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