Roger Federer-Backed On Sneakers Are Now as 'Swiss' as the Tennis Star

On Holding AG (NYSE:ONON) has been assigned an average rating of "Moderate Buy" from the twenty-four brokerages that are currently covering the stock. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, eighteen have issued a buy recommendation, and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $59.4762.

The Swiss footwear brand, On, has been growing in popularity, especially after being backed by tennis legend Roger Federer. This has helped the company increase its market presence and consumer trust.

Recent reports show that the brand is gaining traction in the US and globally, with analysts reiterating their confidence in the company.

Why the Move Happened

Weiss Ratings restated a "sell (d+)" rating on shares of ON in a research report on Thursday, January 22nd. Telsey Advisory Group reissued an "outperform" rating and set a $65.00 target price on shares of ON in a research note on Tuesday, March 3rd.

KeyCorp reissued an "overweight" rating on shares of ON in a report on Wednesday, March 4th. Evercore set a $58.00 price target on ON and gave the stock an "outperform" rating in a research note on Tuesday, March 3rd.

UBS Group reiterated a "buy" rating on shares of ON in a research report on Thursday, February 19th.

How Markets Responded

ON shares opened at $39.91 on Tuesday. The stock has a fifty-two-week low of $34.38 and a fifty-two-week high of $61.29. The company has a market capitalization of $25.47 billion.

The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13, and a current ratio of 2.71. The company has a P/E ratio of 55.44, a P/E/G ratio of 0.75, and a beta of 2.14.

The company has a fifty-day moving average of $44.11 and a 200-day moving average of $43.91.

What Analysts Are Watching

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. lifted its stake in ON by 639.7% in the 4th quarter.

Investors are closely watching the company's ability to maintain its growth and brand strength in a competitive market. The company's performance in the coming quarters will be key to understanding its future potential.

Analysts believe that the company is positioned well to continue its upward trajectory, especially with the backing of high-profile athletes and its Swiss heritage.

On is also being compared to other outdoor and apparel brands like Deckers and V.F. in terms of market performance and investor interest.