Brokerages Set On Holding AG (NYSE:ONON) Target Price at $49.74

by · The Cerbat Gem

On Holding AG (NYSE:ONON – Get Free Report) has received an average recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $49.74.

Several research analysts recently weighed in on ONON shares. KeyCorp raised their target price on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. The Goldman Sachs Group raised their target price on ON from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Barclays upped their target price on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Evercore ISI raised ON to an “overweight” rating and upped their target price for the company from $43.00 to $47.00 in a report on Monday, August 12th. Finally, Raymond James initiated coverage on ON in a report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 target price for the company.

View Our Latest Stock Analysis on ON

Institutional Investors Weigh In On ON

Several hedge funds have recently bought and sold shares of ONON. Blue Trust Inc. raised its stake in shares of ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after purchasing an additional 403 shares in the last quarter. Quarry LP purchased a new stake in shares of ON during the 2nd quarter worth about $32,000. nVerses Capital LLC purchased a new stake in shares of ON during the 3rd quarter worth about $65,000. Tsfg LLC purchased a new stake in shares of ON during the 3rd quarter worth about $69,000. Finally, WD Rutherford LLC purchased a new stake in shares of ON during the 1st quarter worth about $52,000. 33.11% of the stock is owned by hedge funds and other institutional investors.

ON Stock Performance

NYSE:ONON opened at $48.31 on Tuesday. The business has a fifty day moving average of $47.56 and a 200-day moving average of $41.02. ON has a 1 year low of $24.15 and a 1 year high of $52.80. The stock has a market cap of $30.42 billion, a price-to-earnings ratio of 91.15 and a beta of 2.24.

ON (NYSE:ONON – Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The firm had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. On average, equities research analysts predict that ON will post 0.76 EPS for the current year.

About ON

(Get Free Report

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.

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