On Holding AG (NYSE:ONON) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of On Holding AG (NYSE:ONON) have received an average recommendation of “Moderate Buy” from the twenty-four brokerages that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $60.00.

ONON has been the topic of a number of analyst reports. HSBC raised ON from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Tuesday, March 11th. Jefferies Financial Group began coverage on shares of ON in a research report on Tuesday, April 1st. They issued a “hold” rating and a $44.00 target price on the stock. UBS Group upped their price target on shares of ON from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Citigroup initiated coverage on shares of ON in a research report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price objective on the stock. Finally, Piper Sandler cut their target price on shares of ON from $62.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday.

Institutional Investors Weigh In On ON

Large investors have recently bought and sold shares of the business. Strategic Financial Concepts LLC acquired a new stake in shares of ON in the fourth quarter worth about $30,000. Park Square Financial Group LLC acquired a new stake in ON in the 4th quarter worth approximately $32,000. MassMutual Private Wealth & Trust FSB acquired a new stake in ON in the 1st quarter worth approximately $32,000. Legacy Bridge LLC bought a new stake in ON during the fourth quarter worth approximately $43,000. Finally, Bernard Wealth Management Corp. acquired a new position in ON during the fourth quarter valued at approximately $44,000. 36.39% of the stock is currently owned by institutional investors.

ON Stock Up 1.1 %

Shares of NYSE ONON opened at $43.51 on Tuesday. The stock’s fifty day simple moving average is $47.73 and its 200 day simple moving average is $52.01. The stock has a market capitalization of $27.40 billion, a price-to-earnings ratio of 101.19, a PEG ratio of 1.02 and a beta of 2.32. ON has a 52-week low of $29.84 and a 52-week high of $64.05.

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.