ON (NYSE:ONON) Sets New 52-Week High – Time to Buy?

On Holding AG (NYSE:ONON)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $53.62 and last traded at $52.68, with a volume of 1169322 shares trading hands. The stock had previously closed at $51.49.

Analysts Set New Price Targets

ONON has been the topic of several recent research reports. Hsbc Global Res upgraded ON to a “hold” rating in a research report on Thursday, September 5th. KeyCorp boosted their target price on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Telsey Advisory Group reiterated an “outperform” rating and issued a $53.00 price target on shares of ON in a research report on Tuesday. TD Cowen boosted their price objective on shares of ON from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Stifel Nicolaus increased their target price on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.37.

ON Price Performance

The business’s 50-day moving average is $49.10 and its two-hundred day moving average is $42.90. The firm has a market cap of $33.14 billion, a P/E ratio of 99.30 and a beta of 2.25.

ON (NYSE:ONON) last announced its quarterly earnings data 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 company had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. Equities research analysts predict that On Holding AG will post 0.75 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after buying an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in shares of ON during the 3rd quarter worth about $29,000. Quarry LP bought a new stake in shares of ON in the 2nd quarter valued at about $32,000. Finally, MFA Wealth Advisors LLC acquired a new stake in ON in the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

About ON

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.