On Holding AG (NYSE:ONON - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $46.00, but opened at $44.84. ON shares last traded at $43.61, with a volume of 774,507 shares trading hands.
Analyst Upgrades and Downgrades
ONON has been the subject of a number of research reports. Bank of America started coverage on shares of ON in a research note on Tuesday, January 7th. They set a "buy" rating and a $73.00 target price for the company. Williams Trading boosted their price objective on ON from $60.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. KeyCorp reaffirmed an "overweight" rating and issued a $68.00 target price on shares of ON in a research report on Wednesday, March 5th. Needham & Company LLC dropped their price target on ON from $64.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Jefferies Financial Group began coverage on ON in a report on Tuesday. They issued a "hold" rating and a $44.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.45.
Read Our Latest Report on ONON
ON Trading Down 3.3 %
The firm has a 50-day moving average of $51.85 and a two-hundred day moving average of $52.68. The firm has a market capitalization of $26.75 billion, a P/E ratio of 98.77, a P/E/G ratio of 1.02 and a beta of 2.35.
Institutional Investors Weigh In On ON
Hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in ON in the fourth quarter valued at approximately $164,574,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of ON during the 4th quarter valued at $78,799,000. Axiom Investors LLC DE bought a new stake in ON during the 4th quarter worth $39,320,000. BNP Paribas Financial Markets acquired a new position in ON in the 4th quarter worth about $39,119,000. Finally, Raymond James Financial Inc. acquired a new position in ON in the 4th quarter worth about $28,575,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.
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.
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