Investors Purchase High Volume of ON Call Options (NYSE:ONON)

On Holding AG (NYSE:ONON) was the recipient of unusually large options trading on Friday. Stock traders purchased 23,091 call options on the company. This represents an increase of approximately 81% compared to the average volume of 12,726 call options.

ON Stock Up 1.4 %

Shares of NYSE ONON opened at $46.22 on Friday. The stock has a market capitalization of $29.10 billion, a price-to-earnings ratio of 107.49, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. ON has a 52 week low of $29.84 and a 52 week high of $64.05. The firm has a 50-day moving average price of $53.05 and a 200 day moving average price of $52.61.

Institutional Investors Weigh In On ON

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in ON by 96.5% in the 3rd quarter. Principal Financial Group Inc. now owns 101,784 shares of the company’s stock valued at $5,104,000 after buying an additional 49,995 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in ON by 62.7% during the third quarter. Oppenheimer & Co. Inc. now owns 9,661 shares of the company’s stock worth $484,000 after purchasing an additional 3,723 shares during the period. OneDigital Investment Advisors LLC acquired a new position in shares of ON in the 3rd quarter valued at $254,000. Advisors Asset Management Inc. grew its stake in shares of ON by 53.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,572 shares of the company’s stock valued at $380,000 after buying an additional 2,622 shares during the period. Finally, King Luther Capital Management Corp increased its holdings in shares of ON by 1.0% during the 3rd quarter. King Luther Capital Management Corp now owns 56,595 shares of the company’s stock worth $2,838,000 after buying an additional 574 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

ONON has been the subject of a number of research reports. HSBC upgraded ON from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Tuesday, March 11th. UBS Group increased their price target on shares of ON from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. TD Cowen raised their price objective on shares of ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Barclays upped their target price on shares of ON from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Citigroup initiated coverage on ON in a report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $61.90.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.