On Holding AG (NYSE: ONON) stock jumped 3.12% on Monday to $28.46 against a previous-day closing price of $27.60. With 3.69 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.66 million shares. During the session, the Footwear & Accessories company that operates in wider Consumer Cyclical sector, reached to the highest price of $28.54 whereas the lowest price it dropped to was $27.60. The 52-week range on ONON shows that it touched its highest point at $37.08 and its lowest point at $15.91 during that stretch. It currently has a 1-year price target of $34.71. Beta for the stock currently stands at 2.14.
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 7.15%, but this was up by 13.66% over a month. Three-month performance dropped to -3.13% while six-month performance rose 3.57%. The stock gained 64.32% in the past year, while it has gained 65.85% so far this year. A look at the trailing 12-month EPS for ONON yields 0.28 with Next year EPS estimates of 0.77. For the next quarter, that number is 0.13. This implies an EPS growth rate of 66.43% for this year and 46.82% for next year.
Float and Shares Shorts:
At present, 281.98 million ONON shares are outstanding with a float of 185.82 million shares on hand for trading. On Oct 30, 2023, short shares totaled 18.33 million, which was 5.76% higher than short shares on Sep 28, 2023. In addition to Mr. David Allemann as the firm’s Co-Founder & Executive Co-Chairman, Mr. Caspar Coppetti serves as its Co-Founder & Executive Co-Chairman.
Through their ownership of 42.16% of ONON’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 25.01% of ONON, in contrast to 20.91% held by mutual funds. As the largest shareholder in ONON with 9.98% of the stake, Fidelity Management & Research Co holds 28,139,719 shares worth 28,139,719. A second-largest stockholder of ONON, Jennison Associates LLC, holds 7,887,000 shares, controlling over 2.80% of the firm’s shares. American Century Investment Manag is the third largest shareholder in ONON, holding 6,566,787 shares or 2.33% stake. With a 2.91% stake in ONON, the Fidelity Contrafund is the largest stakeholder. A total of 8,215,449 shares are owned by the mutual fund manager. The Fidelity Growth Company Fund, which owns about 1.73% of ONON stock, is the second-largest Mutual Fund holder. It holds 4,876,070 shares valued at 125.17 million. American Century Heritage Fund holds 1.35% of the stake in ONON, owning 3,799,454 shares worth 97.53 million.
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 $45.34 and a low target of $18.61, the average target price over the next 12 months is $31.10. Based on these targets, ONON could surge 59.31% to reach the target high and fall by -34.61% to reach the target low. Reaching the average price target will result in a growth of 9.28% from current levels.