Taking the lead: On Holding AG (ONON)

On Holding AG (NYSE: ONON) stock jumped 1.87% on Thursday to $26.65 against a previous-day closing price of $26.16. With 3.3 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.17 million shares. During the session, the Footwear & Accessories company that operates in wider Consumer Cyclical sector, reached to the highest price of $26.89 whereas the lowest price it dropped to was $26.04. The 52-week range on ONON shows that it touched its highest point at $34.88 and its lowest point at $15.44 during that stretch. It currently has a 1-year price target of $34.33.

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 down-trending over the past week, with a drop of -3.13%, but this was down by -18.95% over a month. Three-month performance surged to 28.87% while six-month performance rose 46.67%. The stock gained 45.47% in the past year, while it has gained 55.30% so far this year. A look at the trailing 12-month EPS for ONON yields 0.30 with Next year EPS estimates of 0.78.

Float and Shares Shorts:

At present, 318.07 million ONON shares are outstanding with a float of 106.31 million shares on hand for trading. On Apr 27, 2023, short shares totaled 15.01 million, which was 4.74% higher than short shares on Mar 30, 2023. 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 43.25% of ONON’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 20.00% of ONON, in contrast to 18.38% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in ONON with 9.92% of the stake, Fidelity Management & Research Co holds 27,975,330 shares worth 27,975,330. A second-largest stockholder of ONON, Macquarie Investment Management B, holds 6,232,405 shares, controlling over 2.21% of the firm’s shares. Jennison Associates LLC is the third largest shareholder in ONON, holding 5,095,045 shares or 1.81% stake. With a 2.92% stake in ONON, the Fidelity Contrafund is the largest stakeholder. A total of 8,224,950 shares are owned by the mutual fund manager. The Fidelity Growth Company Fund, which owns about 1.71% of ONON stock, is the second-largest Mutual Fund holder. It holds 4,816,704 shares valued at 156.3 million. Delaware Mid Cap Growth Equity Fu holds 1.59% of the stake in ONON, owning 4,476,305 shares worth 145.26 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Dec 30, 2022, ONON reported revenue of $291.66M and operating income of $26.34M. The EBITDA in the recently reported quarter was $37.89M and diluted EPS was $0.15.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ONON since 0 analysts follow the stock currently. 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 $37.64 and a low target of $17.74, the average target price over the next 12 months is $30.85. Based on these targets, ONON could surge 41.24% to reach the target high and fall by -33.43% to reach the target low. Reaching the average price target will result in a growth of 15.76% 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.