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 mid-day trading on Monday . The stock traded as high as $53.62 and last traded at $52.68, with a volume of 1169322 shares changing hands. The stock had previously closed at $51.49.

Analyst Upgrades and Downgrades

Several research firms have commented on ONON. Stifel Nicolaus upped their price objective on shares of ON from $45.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. UBS Group upped their price target on shares of ON from $55.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Telsey Advisory Group restated an “outperform” rating and set a $53.00 price objective on shares of ON in a research report on Tuesday. KeyCorp upped their target price on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Finally, Evercore ISI raised ON to an “overweight” rating and lifted their price target for the stock from $43.00 to $47.00 in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, ON has an average rating of “Moderate Buy” and an average target price of $50.37.

ON Price Performance

The firm’s 50-day simple moving average is $49.10 and its 200 day simple moving average is $42.90. The firm has a market capitalization of $33.14 billion, a price-to-earnings ratio of 99.30 and a beta of 2.25.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The business had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. As a group, research analysts predict that On Holding AG will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On ON

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

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.