ON (NYSE:ONON) Trading Up 6.4% - Should You Buy?

On Holding AG (NYSE:ONON - Get Free Report)'s share price traded up 6.4% during trading on Friday . The company traded as high as $37.38 and last traded at $40.05. 4,431,329 shares traded hands during trading, a decline of 1% from the average session volume of 4,478,766 shares. The stock had previously closed at $37.65.

Analyst Upgrades and Downgrades

ONON has been the topic of several analyst reports. 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 target on the stock. KeyCorp reiterated an "overweight" rating and set a $68.00 price target on shares of ON in a research report on Wednesday, March 5th. The Goldman Sachs Group cut shares of ON from a "buy" rating to a "neutral" rating and set a $57.00 price objective on the stock. in a research note on Wednesday, February 12th. Barclays increased their price target on shares of ON from $63.00 to $64.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Finally, Needham & Company LLC dropped their price target on shares of ON from $64.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $60.45.

ON Stock Up 15.7 %

The firm has a 50-day moving average of $48.34 and a two-hundred day moving average of $52.11. The company has a market capitalization of $28.35 billion, a PE ratio of 104.70, a price-to-earnings-growth ratio of 1.02 and a beta of 2.32.

Institutional Investors Weigh In On ON

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC raised its position in ON by 1.6% in the fourth quarter. FMR LLC now owns 28,875,965 shares of the company's stock valued at $1,581,537,000 after purchasing an additional 462,738 shares during the period. Alliancebernstein L.P. raised its holdings in shares of ON by 2.8% in the 4th quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company's stock valued at $951,808,000 after buying an additional 471,805 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in ON by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company's stock worth $184,109,000 after acquiring an additional 18,752 shares in the last quarter. Norges Bank acquired a new position in ON in the 4th quarter valued at about $164,574,000. Finally, Jennison Associates LLC increased its stake in ON by 27.4% during the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company's stock worth $112,259,000 after purchasing an additional 440,685 shares during the period. 36.39% of the stock is owned by hedge funds and other institutional investors.

About ON

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.