On Holding AG [NYSE: ONON] plunged by -$1.11 during the normal trading session on while it closed the day at $33.18. 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.
On Holding AG stock has also loss -2.56% of its value over the past 7 days. However, ONON stock has inclined by 23.99% in the 3 months of the year. Over the past six months meanwhile, it has gained 27.03% and gained 23.03% year-on date.
The market cap for ONON stock reached $10.03 billion, with 302.35 million shares outstanding and 195.47 million shares in the current float. Compared to the average trading volume of 5.63M shares, ONON reached a trading volume of 3266507 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 $35.36 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 1.65. 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.
Barclays have made an estimate for On Holding AG shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 01, 2024. The new note on the price target was released on March 07, 2024, representing the official price target for On Holding AG stock. Previously, the target price had yet another raise to $29, while Truist analysts kept a Hold rating on ONON stock.
The Average True Range (ATR) for On Holding AG is set at 1.37, with the Price to Sales ratio for ONON stock in the period of the last 12 months amounting to 5.03. The Price to Book ratio for the last quarter was 8.83, with the Price to Cash per share for the same quarter was set at 1.94. Price to Free Cash Flow for ONON in the course of the last twelve months was 48.69 with Quick ratio for the last quarter at 2.60.
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 -2.56. With this latest performance, ONON shares dropped by -2.50% in over the last four-week period, additionally plugging by 27.03% over the last 6 months – not to mention a rise of 6.93% 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 48.61, with the RSI for the last a single of trading hit 43.11, and the three-weeks RSI is set at 51.45 for On Holding AG [ONON]. The present Moving Average for the last 50 days of trading for this stock 31.61, while it was recorded at 34.56 for the last single week of trading, and 29.91 for the last 200 days.
On Holding AG [ONON]: An insightful look at the core fundamentals
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.
On Holding AG [ONON]: Institutional Ownership
The top three institutional holders of ONON stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ONON stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ONON stock with ownership which is approximately 5.8386%.
