Several institutional investors have updated their holdings in ONON. Quarry LP invested about $32,000 in the second quarter. WD Rutherford LLC bought shares worth $52,000 in the first quarter. Asset Dedication LLC increased its stake by 25.8%, now owning 1,592 shares worth $62,000 after acquiring 327 more shares. Orion Capital Management LLC raised its position by 106.7%, owning 2,480 shares valued at $88,000 after buying 1,280 additional shares. Lastly, National Bank of Canada FI grew its holdings by 24.0%, now possessing 2,585 shares worth $98,000 after purchasing another 500 shares. Overall, hedge funds and institutional investors own 33.11% of the stock.
ON Price Performance
ONON stock opened at $49.13. Its 50-day moving average is $46.80 and the 200-day average is $40.60. The stock’s 12-month low is $24.15, and its high is $52.80. Market cap stands at $30.93 billion, with a price-to-earnings ratio of 111.66 and a beta of 2.24.
ON (NYSE:ONON – Get Free Report) reported quarterly earnings on August 13. Earnings per share (EPS) were $0.10, missing the estimate of $0.14 by $0.04. Revenue was $627.66 million, slightly below the expected $634.43 million. The company had a net margin of 7.42% and a return on equity of 13.02%. Analysts predict an EPS of 0.76 for the current year.
Wall Street Analyst Weigh In
HSBC Global Research rated ON a “hold” on September 5. Telsey Advisory Group maintained an “outperform” rating with a $47 price target on August 13. Evercore ISI upgraded the stock to “overweight” and increased the target from $43 to $47 on August 12. Barclays raised their target from $40 to $47 with an “overweight” rating on August 14. Stifel Nicolaus set a new target of $59 and gave it a “buy” rating on September 18. In total, four analysts rate it as a hold, while 17 recommend buying. MarketBeat lists the consensus rating as “Moderate Buy” with an average target price of $49.74.
ON Profile
On Holding AG develops and sells sports products globally, including footwear, apparel, and accessories for running, outdoor activities, training, and tennis, available online and in stores.
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