Fidelity Management & Research Co has recently announced that it has increased stake in On Holding AG (NYSE:ONON) by 0.22%. After grabbing 28.14 million shares, the institutional investor is now in possession of 62289.0 shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 9.98% having worth around $722.35 million. Moreover, Jennison Associates LLC increased its share by 0.55 million to have a control over 7.89 million shares. And American Century Investment Manag raised its holdings to 3.43 million shares by acquiring 6.57 million shares or 2.33% of the stake.
On Holding AG (ONON) concluded trading on 12/13/23 at a closing price of $29.82, with 4.55 million shares of worth about $135.68 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -0.10% during that period and on Wednesday the price saw a gain of about 5.89%. Currently the company’s common shares owned by public are about 281.98M shares, out of which, 185.84M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 20 analysts are covering the ONON stock and their offered price forecasts bring an average price target of $30.94. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $45.34 and could fall to a lowest price of $18.61. The stock’s current price level is 13.74% above of average price target set by the analysts, while a rise to estimated low would result in loss of -60.24% for the stock. However, touching the estimated high of $45.34 would mean a gain of 34.23% for the stock.
Fidelity Contrafund, Fidelity Growth Company Fund, and American Century Heritage Fund are the top 3 mutual funds which are holding stakes in On Holding AG Fidelity Contrafund is currently holding 8.22 million shares of worth totaling $210.89 million. The company recently came buying 0.0 shares which brought its stake up to 2.91% of the company’s outstanding shares. Fidelity Growth Company Fund bought 13700.0 shares, after which its hold over company’s outstanding shares expand to 1.73%, leaving 4.89 million shares with the mutual fund that have a worth of about $125.52 million. American Century Heritage Fund, after buying 3.8 million shares, have now control over 1.35% of the stake in the company. It holds 1.94 million shares of worth $97.53 million.
On Holding AG (NYSE: ONON) started trading at $28.13, below -$0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 29.89, or with a gain of 5.89%. Stock saw a price change of 8.08% in past 5 days and over the past one month there was a price change of 12.27%. Year-to-date (YTD), ONON shares are showing a performance of 73.78% which increased to 68.28% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $15.91 but also hit the highest price of $37.08 during that period. The average intraday trading volume for On Holding AG shares is 4.72 million. The stock is currently trading 5.22% above its 20-day simple moving average (SMA20), while that difference is up 11.29% for SMA50 and it goes to 2.13% higher than SMA200.
Fidelity Management & Research Co acquired 28.14 million shares of On Holding AG having value of about $722.35 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 62289.0 shares in the company valued at close to $1857457.98, or have control over 0.22% stake in the company. On Holding AG (NYSE: ONON) currently have 281.98M outstanding shares and institutions hold larger chunk of about 40.67% of that. Holding of mutual funds in the company is about 20.64% while other institutional holders and individual stake holders have control over 25.31% and — of the stake respectively.
The stock has a current market capitalization of $9.49B and its 3Y-monthly beta is at 2.14. PE ratio of stock for trailing 12 months is 106.96, while it has posted earnings per share of $0.28 in the same period. It has Quick Ratio of 2.21 while making debt-to-equity ratio of 0.23. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ONON, volatility over the week remained 4.05% while standing at 4.36% over the month.
Analysts are in expectations that On Holding AG (ONON) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is $0.83 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to rise by 67.64% while it is estimated to increase by 45.64% in next year.
Analysts at 20 brokerage firms have issued recommendations for the On Holding AG (ONON)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.55. Out of those 20 Wall Street analysts, 14 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Truist on November 17, 2023 offering a Hold rating for the stock and assigned a target price of $29 to it.
