Wealth Enhancement Advisory Services LLC Purchases 1,899 Shares of On Holding AG (NYSE:ONON)

Wealth Enhancement Advisory Services LLC grew its position in On Holding AG (NYSE:ONON) by 11.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,002 shares of the company’s stock after purchasing an additional 1,899 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in ON were worth $903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blair William & Co. IL bought a new position in ON during the first quarter valued at $502,000. Janney Montgomery Scott LLC increased its position in ON by 1,011.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock valued at $3,686,000 after purchasing an additional 94,814 shares during the period. Acadian Asset Management LLC purchased a new position in ON during the 1st quarter valued at about $8,094,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of ON by 100.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock valued at $49,716,000 after buying an additional 642,894 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in shares of ON in the 1st quarter valued at about $521,000. Institutional investors own 33.11% of the company’s stock.

ON Stock Performance

Shares of NYSE ONON opened at $47.88 on Wednesday. The firm has a market cap of $30.15 billion, a PE ratio of 90.34 and a beta of 2.25. The firm has a fifty day moving average of $48.67 and a 200 day moving average of $42.24. On Holding AG has a one year low of $24.15 and a one year high of $52.80.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The company had revenue of $627.66 million during the quarter, compared to analysts’ expectations of $634.43 million. On average, equities analysts predict that On Holding AG will post 0.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ONON has been the subject of a number of recent analyst reports. TD Cowen lifted their target price on shares of ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. KeyCorp raised their price target on shares of ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Morgan Stanley raised their price target on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Evercore ISI raised shares of ON to an “overweight” rating and raised their price target for the stock from $43.00 to $47.00 in a research report on Monday, August 12th. Finally, Raymond James assumed coverage on shares of ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price target for the company. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, ON currently has an average rating of “Moderate Buy” and a consensus price target of $50.05.

About ON

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.