In the latest trading session, On Holding (ONON) closed at $60.15, marking a -0.5% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.29%. Meanwhile, the Dow experienced a drop of 0.32%, and the technology-dominated Nasdaq saw a decrease of 0.5%.
Shares of the running-shoe and apparel company witnessed a gain of 7.2% over the previous month, beating the performance of the Retail-Wholesale sector with its gain of 3.53% and the S&P 500's gain of 2.52%.
The investment community will be closely monitoring the performance of On Holding in its forthcoming earnings report. The company is expected to report EPS of $0.20, up 433.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $668.79 million, up 32.52% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for On Holding. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.59% higher. At present, On Holding boasts a Zacks Rank of #2 (Buy).
Digging into valuation, On Holding currently has a Forward P/E ratio of 53.7. This valuation marks a premium compared to its industry's average Forward P/E of 16.57.
We can additionally observe that ONON currently boasts a PEG ratio of 0.93. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Retail - Apparel and Shoes was holding an average PEG ratio of 1.54 at yesterday's closing price.
The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 73, finds itself in the top 30% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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