On Holding AG [NYSE: ONON] gained 3.41% or 1.13 points to close at $34.23 with a heavy trading volume of 4375972 shares. The company report on March 12, 2024 at 6:00 AM that On Announces Fourth Quarter and Full Year Results, and the Filing of its Annual Report on Form 20-F for 2023.
On achieves strong full year results in 2023, significantly exceeding the expectations set at the beginning of the year, reaching net sales of CHF 1,792.1 million. This reflects a reported growth rate of 46.6% year-over-year and over 55% on a constant currency basis. On further reports a gross profit margin of 59.6%, net income of CHF 79.6 million and an adjusted EBITDA margin of 15.5%, showcasing On’s ongoing commitment to combine strong growth with continuously increasing profitability.
On reports fourth quarter net sales of CHF 447.1 million, growing by 21.9% year-over-year on a reported basis and over 31% on a constant currency basis. The strength and increasing awareness of the On brand drove record-high traffic to On’s website and retail stores around the globe, resulting in a 46.2% DTC share, the highest in On’s history.
The daily chart for ONON points out that the company has recorded 13.08% gains over the past six months.
If we look at the average trading volume of 5.85M shares, ONON reached to a volume of 4375972 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $35.85 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 1.63. 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.
Redburn Atlantic have made an estimate for On Holding AG shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 07, 2024. While these analysts kept the previous recommendation, Truist raised their target price to Hold. The new note on the price target was released on November 17, 2023, representing the official price target for On Holding AG stock. Previously, the target price had yet another raise to $38, while Evercore ISI analysts kept a Outperform rating on ONON stock.
The Average True Range (ATR) for On Holding AG is set at 1.52, with the Price to Sales ratio for ONON stock in the period of the last 12 months amounting to 5.46. The Price to Book ratio for the last quarter was 9.11, with the Price to Cash per share for the same quarter was set at 1.85. Price to Free Cash Flow for ONON in the course of the last twelve months was 52.85 with Quick ratio for the last quarter at 2.60.
Trading performance analysis for ONON stock
On Holding AG [ONON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.72. With this latest performance, ONON shares gained by 7.84% in over the last four-week period, additionally plugging by 13.08% over the last 6 months – not to mention a rise of 58.40% in the past year of trading.
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 59.30, with the RSI for the last a single of trading hit 59.77, and the three-weeks RSI is set at 59.02 for On Holding AG [ONON]. The present Moving Average for the last 50 days of trading for this stock 30.29, while it was recorded at 33.30 for the last single week of trading, and 29.64 for the last 200 days.
On Holding AG [ONON]: A deeper dive into fundamental analysis
On Holding AG’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 3.77.
An analysis of Institutional ownership at On Holding AG [ONON]
The top three institutional holders of ONON stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ONON stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ONON stock with ownership which is approximately 5.8325%.
