Davenport & Co LLC, an institutional investor, recently acquired a new position in On Holding AG (NYSE:ONON). They purchased 12,435 shares of the company’s stock, valued at approximately $410,000. This move indicates confidence in the company and its future prospects.
Other institutional investors have also made changes to their holdings in ON. Cerity Partners LLC increased its stake in ON by 1.2% in the first quarter. They now own 26,010 shares of the company’s stock. US Bancorp DE grew its stake by 32.7% in the first quarter, holding 1,417 shares. Belpointe Asset Management LLC and Vista Capital Partners Inc. have also increased their stakes by 75.3% and 8.0% respectively. Mitchell Capital Management Co. saw a 2.0% increase in their stake as well. In total, institutional investors now own 18.64% of the company’s stock.
On Holding AG develops and distributes sports products including footwear, apparel, and accessories. The company operates worldwide through independent retailers, distributors, online platforms, and stores. Headquartered in Zurich, Switzerland, On Holding AG has been in operation since 2010.
ON’s stock is performing well in the market, with a market capitalization of $15.75 billion. The stock has a price-to-earnings ratio of 179.36, a PEG ratio of 1.43, and a beta of 2.22. The 50-day simple moving average of the stock is $30.11, while the 200-day simple moving average is $30.75. ON has a 52-week low of $15.44 and a 52-week high of $37.08.
In terms of earnings, ON reported $0.04 earnings per share for the quarter, falling short of the consensus estimate of $0.11 by ($0.07). The company had a return on equity of 3.98% and a net margin of 2.59%. ON’s revenue for the quarter was $444.30 million, surpassing analysts’ expectations of $418.09 million. Analysts predict that ON will post earnings per share of 0.44 for the current fiscal year.
Several research firms have provided their analysis and ratings on ON. Wedbush reissued an “outperform” rating with a target price of $36.00. Needham & Company LLC also initiated coverage on ON, giving it a “buy” rating and a $40.00 target price. TD Cowen and The Goldman Sachs Group lowered their price targets for ON to $35.00 and $38.00 respectively, both affirming an “outperform” rating. KeyCorp initiated coverage on ON with an “overweight” rating and a price target of $42.00. In total, there are 14 ratings on ON, with one sell rating, four hold ratings, and nine buy ratings. The average rating for ON is “Moderate Buy” with an average price target of $34.15.
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– Institutional investor: An organization or company that pools together funds from multiple investors for the purpose of investing in various securities.
– Market capitalization: The total value of a company’s outstanding shares of stock.
– Price-to-earnings ratio: A financial metric used to assess a company’s valuation by dividing the current price of a share of stock by its earnings per share.
– PEG ratio: A valuation metric that takes into account a company’s earnings growth when determining its stock price.
– Beta: A measure of a stock’s volatility in relation to the overall market.
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