Berenberg slashes price target on On Holding AG [ONON] – find out why.


On Holding AG [NYSE: ONON] plunged by -$2.27 during the normal trading session on Tuesday and reaching a high of $26.05 during the day while it closed the day at $23.94. The company report on March 18, 2022 that On Announces Fourth Quarter and Full Year Results, and the Filing of Its Annual Report on Form 20-F for 2021.

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On experiences very strong consumer demand across all regions, channels, and product categories and delivers another record year with net sales of CHF 724.6 million, a gross profit margin jump to 59.4% and an adjusted EBITDA margin of 13.3%. This reflects On’s commitment to manage the company with a focus on long-term growth and profitability.

Net sales increased by 53.7% in the fourth quarter of 2021 and by 70.4% in fiscal year 2021, with the direct-to-consumer business growing 76.7% in the fourth quarter and Wholesale growing 39.3%. This validates the strength of On’s multi-channel distribution, where wholesale and DTC channels are highly complementary.

On Holding AG stock has also loss -7.96% of its value over the past 7 days. However, ONON stock has declined by -5.86% in the 3 months of the year. Over the past six months meanwhile, it has lost -31.56% and lost -36.68% year-on date.

The market cap for ONON stock reached $7.48 billion, with 270.88 million shares outstanding and 173.62 million shares in the current float. Compared to the average trading volume of 2.50M shares, ONON reached a trading volume of 5559251 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about On Holding AG [ONON]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ONON shares is $38.11 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ONON stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Berenberg have made an estimate for On Holding AG shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 19, 2022. While these analysts kept the previous recommendation, UBS raised their target price to Buy. The new note on the price target was released on October 11, 2021, representing the official price target for On Holding AG stock. Previously, the target price had yet another raise to $36, while Stifel analysts kept a Buy rating on ONON stock.

The Average True Range (ATR) for On Holding AG is set at 1.53, with the Price to Sales ratio for ONON stock in the period of the last 12 months amounting to 9.83. The Price to Book ratio for the last quarter was 7.28, with the Price to Cash per share for the same quarter was set at 2.29.

ONON stock trade performance evaluation

On Holding AG [ONON] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.96. With this latest performance, ONON shares dropped by -6.30% in over the last four-week period, additionally sinking by -31.56% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ONON stock in for the last two-week period is set at 44.45, with the RSI for the last a single of trading hit 40.29, and the three-weeks RSI is set at 45.72 for On Holding AG [ONON]. The present Moving Average for the last 50 days of trading for this stock 24.67, while it was recorded at 25.67 for the last single week of trading.

On Holding AG [ONON]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and On Holding AG [ONON] shares currently have an operating margin of -19.47 and a Gross Margin at +55.43. On Holding AG’s Net Margin is presently recorded at -23.49.

Return on Equity for this stock declined to -30.82, with Return on Assets sitting at -20.65.

On Holding AG’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.10 and a Current Ratio set at 4.70.

On Holding AG [ONON]: Insider Ownership positions

There are presently around $2,021 million, or 28.30% of ONON stock, in the hands of institutional investors. The top three institutional holders of ONON stocks are: HHLR ADVISORS, LTD. with ownership of 15,973,750, which is approximately 0% of the company’s market cap and around 19.83% of the total institutional ownership; BOND CAPITAL MANAGEMENT, LP, holding 5,628,750 shares of the stock with an approximate value of $147.53 million in ONON stocks shares; and LUXOR CAPITAL GROUP, LP, currently with $144.45 million in ONON stock with ownership of nearly -12.207% of the company’s market capitalization.

Positions in On Holding AG stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 95 institutional holders increased their position in On Holding AG [NYSE:ONON] by around 23,572,662 shares. Additionally, 68 investors decreased positions by around 63,941,443 shares, while 12 investors held positions by with 10,392,543 shares. The mentioned changes placed institutional holdings at 77,121,562 shares, according to the latest SEC report filing. ONON stock had 57 new institutional investments in for a total of 14,560,100 shares, while 38 institutional investors sold positions of 4,352,492 shares during the same period.