NBC Securities Inc. Lowers Stock Position in On Holding AG (NYSE:ONON)

NBC Securities Inc. lowered its position in On Holding AG (NYSE:ONON) by 9.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,483 shares of the company’s stock after selling 2,069 shares during the period. NBC Securities Inc.’s holdings in ON were worth $1,027,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC purchased a new stake in shares of ON in the first quarter valued at about $121,712,000. Price T Rowe Associates Inc. MD raised its holdings in shares of ON by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock valued at $98,636,000 after purchasing an additional 14,674 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of ON by 66,838.9% in the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock valued at $93,500,000 after purchasing an additional 2,406,200 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in ON by 30.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,224,894 shares of the company’s stock worth $78,717,000 after buying an additional 516,478 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in ON during the first quarter worth about $65,898,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Analysts Set New Price Targets

ONON has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price objective on shares of ON from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Stifel Nicolaus raised their price objective on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Barclays raised their price objective on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. KeyCorp raised their price objective on shares of ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Finally, Piper Sandler increased their target price on shares of ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.74.

ON Trading Down 0.5 %

ONON stock opened at $49.13 on Thursday. The firm has a 50 day moving average of $46.80 and a 200-day moving average of $40.60. The firm has a market capitalization of $30.93 billion, a P/E ratio of 111.66 and a beta of 2.24. On Holding AG has a 12 month low of $24.15 and a 12 month high of $52.80.

ON (NYSE:ONON) last announced 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). The company had revenue of $627.66 million during the quarter, compared to analysts’ expectations of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. Sell-side analysts predict that On Holding AG will post 0.76 EPS for the current year.

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.