Strategic Blueprint LLC Makes New Investment in On Holding AG (NYSE:ONON)

Strategic Blueprint LLC purchased a new stake in On Holding AG (NYSE:ONON) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,856 shares of the company’s stock, valued at approximately $294,000.

Other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in ON by 11.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,002 shares of the company’s stock valued at $903,000 after buying an additional 1,899 shares during the period. First National Bank of Hutchinson boosted its position in shares of ON by 64.6% during the 3rd quarter. First National Bank of Hutchinson now owns 10,217 shares of the company’s stock valued at $512,000 after acquiring an additional 4,011 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of ON during the third quarter worth about $699,000. MFA Wealth Advisors LLC purchased a new position in shares of ON during the third quarter worth about $50,000. Finally, Sterling Investment Counsel LLC purchased a new stake in ON in the third quarter valued at approximately $231,000. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

ON Trading Down 2.0 %

Shares of ON stock opened at $46.49 on Friday. The business has a fifty day simple moving average of $48.62 and a two-hundred day simple moving average of $41.81. The firm has a market capitalization of $29.27 billion, a P/E ratio of 87.72 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 posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The business had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. Analysts predict that On Holding AG will post 0.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ONON shares. Hsbc Global Res raised shares of ON to a “hold” rating in a research note on Thursday, September 5th. Telsey Advisory Group reiterated an “outperform” rating and issued a $47.00 target price on shares of ON in a research report on Tuesday, August 13th. Raymond James initiated coverage on ON in a research note on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price target for the company. Bank of America upgraded ON from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. Finally, Piper Sandler increased their price target on shares of ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.74.

ON 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.