On Holding AG (NYSE:ONON) marked $22.45 per share on Wednesday, up from a previous closing price of $21.69. While On Holding AG has overperformed by 3.50%, investors are advised to look at stock chart patterns for technical insight.
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On July 26, 2022, Piper Sandler started tracking On Holding AG (NYSE: ONON) recommending Overweight. A report published by BofA Securities on May 09, 2022, Initiated its previous ‘Underperform’ rating for ONON. Berenberg also rated ONON shares as ‘Buy’, setting a target price of $31 on the company’s shares in an initiating report dated April 19, 2022. UBS Initiated an Buy rating on October 11, 2021, and assigned a price target of $40. Stifel initiated its ‘Buy’ rating for ONON, as published in its report on October 11, 2021. Robert W. Baird’s report from October 11, 2021 suggests a price prediction of $38 for ONON shares, giving the stock a ‘Outperform’ rating. Morgan Stanley also rated the stock as ‘Overweight’.
Analysis of On Holding AG (ONON)
Further, the quarter-over-quarter decrease in sales is -7.40%, showing a negative trend in the upcoming months.
In order to gain a clear picture of On Holding AG’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -20.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 2.58M can be a very valuable indicator of volatility for ONON stock. On a monthly basis, the volatility of the stock is set at 5.38%, whereas on a weekly basis, it is put at 6.21%, with a gain of 17.48% over the past seven days. Furthermore, long-term investors anticipate a median target price of $27.60, showing growth from the present price of $22.45, which can serve as yet another indication of whether ONON is worth investing in or should be passed over.
How Do You Analyze On Holding AG Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 37.74%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 34.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ONON shares?
The recent increase in stakes in ONON appears to be a result of several institutional investors and hedge funds increasing their positions. Durable Capital Partners LP’s position in ONON has increased by 114.50% in the first quarter. The company now owns 11,028,390 shares of the stock, with a value of $195.09 million, following the purchase of 5,887,034 additional shares during the last quarter. Fidelity Management & Research Co made another increased to its shares in ONON during the first quarter, upping its stake by 140.86%. During the last quarter, the company picked up 6,298,487 additional shares for a total stake of worth $190.52 million, bringing number of shares owned by the company to 10,769,879.
During the first quarter, T. Rowe Price Associates, Inc. added a 6,062,145 position in ONON. HHLR Advisors Ltd. sold an additional -6.67 million shares in the last quarter, decreasing its holdings by -41.78%, now holding 9.3 million shares worth $164.52 million. At the end of the first quarter, Macquarie Investment Management B increased its ONON holdings by 134.63% and now holds 6.52 million ONON shares valued at $115.28 million with the added 3.74 million shares during the period. ONON shares are owned by institutional investors to the tune of 34.00% at present.