Stocks of On Holding AG (ONON) are poised to climb above their peers

On Holding AG (NYSE: ONON) stock fell -2.16% on Tuesday to $21.79 against a previous-day closing price of $22.27. With 2.0 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.24 million shares. During the session, the Footwear & Accessories company that operates in wider Consumer Cyclical sector, reached to the highest price of $22.56 whereas the lowest price it dropped to was $21.70. The 52-week range on ONON shows that it touched its highest point at $31.29 and its lowest point at $15.44 during that stretch. It currently has a 1-year price target of $26.19.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ONON was up-trending over the past week, with a rise of 2.01%, but this was up by 29.32% over a month. Three-month performance surged to 32.22% while six-month performance rose 12.67%. The stock lost -15.38% in the past year, while it has gained 26.98% so far this year. A look at the trailing 12-month EPS for ONON yields -0.46 with Next year EPS estimates of 0.46.

Float and Shares Shorts:

At present, 317.19 million ONON shares are outstanding with a float of 176.23 million shares on hand for trading. On Oct 13, 2022, short shares totaled 19.77 million, which was 6.27% higher than short shares on Sep 14, 2022. In addition to Mr. David Allemann as the firm’s Co-Founder & Exec. Co-Chairman, Mr. Caspar Coppetti serves as its Co-Founder & Exec. Co-Chairman.

Institutional Ownership:

Through their ownership of 40.03% of ONON’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 19.03% of ONON, in contrast to 18.64% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in ONON with 9.89% of the stake, Fidelity Management & Research Co holds 27,774,345 shares worth 27,774,345. A second-largest stockholder of ONON, Macquarie Investment Management B, holds 9,084,032 shares, controlling over 3.24% of the firm’s shares. Durable Capital Partners LP is the third largest shareholder in ONON, holding 8,323,446 shares or 2.97% stake. With a 2.95% stake in ONON, the Fidelity Contrafund is the largest stakeholder. A total of 8,277,204 shares are owned by the mutual fund manager. The Fidelity Growth Company Fund, which owns about 1.74% of ONON stock, is the second-largest Mutual Fund holder. It holds 4,882,593 shares valued at 83.79 million. Delaware Smid Cap Growth Fund holds 1.65% of the stake in ONON, owning 4,636,483 shares worth 79.56 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ONON since 13 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ONON analysts setting a high price target of $28.47 and a low target of $15.23, the average target price over the next 12 months is $24.48. Based on these targets, ONON could surge 30.66% to reach the target high and fall by -30.11% to reach the target low. Reaching the average price target will result in a growth of 12.35% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ONON will report FY 2022 earnings on 03/15/2024. Analysts have provided yearly estimates in a range of $0.35 being high and $0.17 being low. For ONON, this leads to a yearly average estimate of $0.28. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. On Holding AG surprised analysts by -$0.04 when it reported $0.07 EPS against a consensus estimate of $0.11. The surprise factor in the prior quarter was $0.12. Based on analyst estimates, the high estimate for the next quarter is $0.09 and the low estimate is -$0.11. The average estimate for the next quarter is thus $0.01.

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