On Holding AG (NYSE:ONON - Get Free Report) insider Olivier Bernhard purchased 65,000 shares of the company's stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the transaction, the insider owned 5,228,184 shares of the company's stock, valued at approximately $160,348,403.28. This trade represents a 1.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
ON Price Performance
Shares of ON stock opened at $31.28 on Tuesday. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $36.70 and a 200-day simple moving average of $38.39. The stock has a market capitalization of $19.96 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 0.64 and a beta of 2.12. On Holding AG has a 1-year low of $30.11 and a 1-year high of $51.08.
ON (NYSE:ONON - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.07). The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.09 billion. ON had a net margin of 12.09% and a return on equity of 22.92%. The business's quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) earnings per share. On average, sell-side analysts expect that On Holding AG will post 1.51 earnings per share for the current year.
Wall Street Analysts Forecast Growth
ONON has been the topic of several research analyst reports. Jefferies Financial Group set a $20.00 price target on ON in a research report on Tuesday, August 11th. Barclays cut their price objective on ON from $46.00 to $42.00 and set an "overweight" rating for the company in a research report on Wednesday, August 12th. Wall Street Zen lowered ON from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Needham & Company LLC lowered their target price on ON from $45.00 to $37.00 and set a "buy" rating on the stock in a report on Tuesday, August 11th. Finally, Raymond James Financial downgraded ON from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $52.00 to $38.00 in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $48.57.
Check Out Our Latest Stock Analysis on ONON
Hedge Funds Weigh In On ON
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley boosted its position in shares of ON by 40.9% during the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company's stock valued at $1,121,092,000 after acquiring an additional 6,997,455 shares in the last quarter. Platinum Paramount Investment LTD. acquired a new position in ON in the fourth quarter worth about $525,784,000. Sinvest Investments II Ltd. acquired a new position in ON in the fourth quarter worth about $390,432,000. Bamco Inc. NY lifted its stake in ON by 13.9% during the fourth quarter. Bamco Inc. NY now owns 5,405,486 shares of the company's stock worth $251,247,000 after purchasing an additional 658,933 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in ON by 44.8% during the third quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company's stock worth $138,865,000 after purchasing an additional 1,026,804 shares during the period. 36.39% of the stock is owned by institutional investors.
About ON
(
Get Free Report)
On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.
On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.
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