On Holding AG [NYSE: ONON] surged by $0.21 during the normal trading session on Tuesday and reaching a high of $23.60 during the day while it closed the day at $20.61. The company report on May 17, 2022 that On Reports First Quarter 2022 Results.
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On had a very strong start into the year, exceeding expectations. Net sales increased by 67.9% in Q1 2022, with the direct-to-consumer and wholesale business growing nearly equally and contributing to another record top-line quarter. Continued very strong consumer demand, successful new product launches, and extraordinary teamwork to mitigate the supply chain headwinds, allowed On to win market share at an accelerated pace in the first quarter 2022.
On records Q1 2022 net sales of CHF 235.7 million, net income of CHF 14.3 million and adjusted EBITDA of CHF 15.7 million despite the continued challenging supply chain environment.
On Holding AG stock has also gained 2.54% of its value over the past 7 days. However, ONON stock has declined by -25.73% in the 3 months of the year. Over the past six months meanwhile, it has lost -43.43% and lost -45.49% year-on date.
The market cap for ONON stock reached $6.02 billion, with 270.88 million shares outstanding and 175.64 million shares in the current float. Compared to the average trading volume of 2.91M shares, ONON reached a trading volume of 6965205 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 $35.68 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.
BofA Securities have made an estimate for On Holding AG shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on May 09, 2022. While these analysts kept the previous recommendation, Berenberg raised their target price to Buy. The new note on the price target was released on April 19, 2022, representing the official price target for On Holding AG stock. Previously, the target price had yet another raise to $40, while UBS analysts kept a Buy rating on ONON stock.
The Average True Range (ATR) for On Holding AG is set at 1.99, with the Price to Sales ratio for ONON stock in the period of the last 12 months amounting to 8.34. The Price to Book ratio for the last quarter was 6.61, with the Price to Cash per share for the same quarter was set at 2.33.
ONON stock trade performance evaluation
On Holding AG [ONON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.54. With this latest performance, ONON shares dropped by -16.05% in over the last four-week period, additionally sinking by -43.43% 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 41.82, with the RSI for the last a single of trading hit 42.09, and the three-weeks RSI is set at 42.51 for On Holding AG [ONON]. The present Moving Average for the last 50 days of trading for this stock 24.07, while it was recorded at 19.40 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 $1,776 million, or 29.00% of ONON stock, in the hands of institutional investors. The top three institutional holders of ONON stocks are: DURABLE CAPITAL PARTNERS LP with ownership of 11,028,390, which is approximately 114.504% of the company’s market cap and around 19.83% of the total institutional ownership; FMR LLC, holding 10,808,066 shares of the stock with an approximate value of $220.49 million in ONON stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $201.64 million in ONON stock with ownership of nearly 158.611% of the company’s market capitalization.
Positions in On Holding AG stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 96 institutional holders increased their position in On Holding AG [NYSE:ONON] by around 40,292,326 shares. Additionally, 61 investors decreased positions by around 24,324,506 shares, while 15 investors held positions by with 22,443,898 shares. The mentioned changes placed institutional holdings at 87,060,730 shares, according to the latest SEC report filing. ONON stock had 39 new institutional investments in for a total of 10,704,197 shares, while 43 institutional investors sold positions of 14,903,574 shares during the same period.