Pittenger & Anderson Inc. Has $528,000 Holdings in On Holding AG (NYSE:ONON)

Pittenger & Anderson Inc. raised its position in On Holding AG (NYSE:ONON) by 426.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,530 shares of the company’s stock after purchasing an additional 8,530 shares during the quarter. Pittenger & Anderson Inc.’s holdings in ON were worth $528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ONON. Blair William & Co. IL bought a new position in ON in the first quarter valued at $502,000. Janney Montgomery Scott LLC grew its holdings in shares of ON by 1,011.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock valued at $3,686,000 after acquiring an additional 94,814 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of ON in the first quarter valued at about $8,094,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in ON by 100.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after acquiring an additional 642,894 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new position in ON during the first quarter valued at approximately $521,000. 33.11% of the stock is owned by institutional investors and hedge funds.

ON Stock Up 3.4 %

NYSE ONON opened at $47.88 on Wednesday. The firm has a 50-day moving average price of $48.67 and a two-hundred day moving average price of $42.24. On Holding AG has a 12-month low of $24.15 and a 12-month high of $52.80. The company has a market capitalization of $30.15 billion, a P/E ratio of 90.34 and a beta of 2.25.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $634.43 million. Equities analysts expect that On Holding AG will post 0.76 EPS for the current year.

Analyst Ratings Changes

ONON has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price target on ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Piper Sandler boosted their target price on shares of ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Hsbc Global Res upgraded shares of ON to a “hold” rating in a research note on Thursday, September 5th. HSBC initiated coverage on shares of ON in a research note on Thursday, September 5th. They set a “hold” rating and a $52.00 price objective on the stock. Finally, Barclays raised their target price on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, ON currently has an average rating of “Moderate Buy” and a consensus target price of $50.05.

ON Company Profile

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.