Yahoo Finance On Holding (ONON) Stock Sinks As Market Gains: What You Should Know
On Holding (ONON) closed the most recent trading day at $32.44, moving -1.34% from the previous trading session. This move lagged the S&P 500's daily gain of 1.96%. At the same time, the Dow added 1.57%, and the tech-heavy Nasdaq lost 3.03%.
Coming into today, shares of the running-shoe and apparel company had gained 6.75% in the past month. In that same time, the Consumer Discretionary sector gained 1.35%, while the S&P 500 gained 2.19%.
On Holding will be looking to display strength as it nears its next earnings release. In that report, analysts expect On Holding to post earnings of $0.09 per share. This would mark year-over-year growth of 80%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $411.42 million, up 61.23% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.54 per share and revenue of $1.87 billion. These totals would mark changes of +86.21% and +46.37%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for On Holding. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.77% higher. On Holding currently has a Zacks Rank of #2 (Buy).
In terms of valuation, On Holding is currently trading at a Forward P/E ratio of 60.89. This valuation marks a premium compared to its industry's average Forward P/E of 10.31.
We can also see that ONON currently has a PEG ratio of 1.61. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Leisure and Recreation Products stocks are, on average, holding a PEG ratio of 1.36 based on yesterday's closing prices.
The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ONON in the coming trading sessions, be sure to utilize Zacks.com.
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On Holding AG (ONON) : Free Stock Analysis Report
