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Why On Holding (ONON) Outpaced the Stock Market Today
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In the latest trading session, On Holding (ONON - Free Report) closed at $42.57, marking a +1.12% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.37%. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq appreciated by 0.71%.
Shares of the running-shoe and apparel company witnessed a loss of 7.51% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 0.38%, and the S&P 500's gain of 4.26%.
The investment community will be closely monitoring the performance of On Holding in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.34, reflecting a 100% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $939.41 million, indicating a 27.87% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.74 per share and a revenue of $3.67 billion, signifying shifts of -32.73% and +39.45%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for On Holding. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, On Holding is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, On Holding is currently being traded at a Forward P/E ratio of 56.89. This expresses a premium compared to the average Forward P/E of 18.15 of its industry.
It is also worth noting that ONON currently has a PEG ratio of 2.8. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Retail - Apparel and Shoes industry was having an average PEG ratio of 2.44.
The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 86, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Why On Holding (ONON) Outpaced the Stock Market Today
In the latest trading session, On Holding (ONON - Free Report) closed at $42.57, marking a +1.12% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.37%. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq appreciated by 0.71%.
Shares of the running-shoe and apparel company witnessed a loss of 7.51% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 0.38%, and the S&P 500's gain of 4.26%.
The investment community will be closely monitoring the performance of On Holding in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.34, reflecting a 100% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $939.41 million, indicating a 27.87% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.74 per share and a revenue of $3.67 billion, signifying shifts of -32.73% and +39.45%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for On Holding. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, On Holding is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, On Holding is currently being traded at a Forward P/E ratio of 56.89. This expresses a premium compared to the average Forward P/E of 18.15 of its industry.
It is also worth noting that ONON currently has a PEG ratio of 2.8. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Retail - Apparel and Shoes industry was having an average PEG ratio of 2.44.
The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 86, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.