Key Points
- On Holding CFO Frank Sluis sold 687 shares at an average price of $27.74, generating $19,057.38. The sale reduced his ownership by 40.8%, leaving him with 997 shares.
- ON shares opened at $26.88, near their 52-week low of $26.82 and well below the 50-day and 200-day moving averages. The company recently missed quarterly earnings and revenue estimates, despite 13.5% year-over-year revenue growth.
- Analyst sentiment remains a consensus “Moderate Buy,” with an average price target of $46.78, although several firms recently downgraded the stock or lowered their targets.
On Holding AG (NYSE:ONON - Get Free Report) CFO Frank Sluis sold 687 shares of the company's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $27.74, for a total transaction of $19,057.38. Following the transaction, the chief financial officer owned 997 shares of the company's stock, valued at approximately $27,656.78. The trade was a 40.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
ON Price Performance
Shares of ON stock opened at $26.88 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25. The company has a market cap of $17.15 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 0.55 and a beta of 2.08. The firm has a fifty day moving average price of $33.82 and a two-hundred day moving average price of $36.45. On Holding AG has a fifty-two week low of $26.82 and a fifty-two week high of $51.08.
ON (NYSE:ONON - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07). ON had a return on equity of 22.92% and a net margin of 12.09%.The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm posted ($0.09) EPS. The business's revenue for the quarter was up 13.5% compared to the same quarter last year. Analysts expect that On Holding AG will post 1.47 EPS for the current year.
Institutional Investors Weigh In On ON
Several large investors have recently modified their holdings of ONON. Cullen Frost Bankers Inc. boosted its stake in ON by 639.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company's stock valued at $25,000 after buying an additional 467 shares in the last quarter. Caitlin John LLC acquired a new position in ON during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC raised its stake in ON by 69.6% during the first quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company's stock worth $26,000 after acquiring an additional 312 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of ON during the fourth quarter valued at $27,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of ON by 555.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company's stock valued at $33,000 after acquiring an additional 594 shares during the period. 36.39% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have commented on ONON. William Blair downgraded ON from an "outperform" rating to a "market perform" rating in a research report on Tuesday, August 11th. Wall Street Zen cut ON from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Barclays cut their target price on ON from $46.00 to $42.00 and set an "overweight" rating for the company in a research note on Wednesday, August 12th. Williams Trading set a $32.00 price target on shares of ON in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group set a $20.00 price target on shares of ON in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, ON presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.78.
View Our Latest Analysis on ONON
About ON
(
Get Free Report)
On Holding AG, known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company is particularly recognized for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and Speedboard components designed to support comfort, responsiveness and energy return.
On serves athletes and consumers across categories including running, outdoor activities, training and everyday performance. Its products are sold through the company's direct-to-consumer channels, including its website and branded retail stores, as well as through a network of wholesale partners in markets around the world.
On was founded in 2010 in Switzerland by Olivier Bernhard, David Allemann and Caspar Coppetti.
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