Why On Holding Stock Jumped This Week
Shares of On Holding (NYSE: ONON) were moving higher this week after the running shoe company delivered strong results in its fourth-quarter earnings report.
As of the close of trading Thursday, shares of the Swiss brand known as On Running were up by about 42% for the week according to data from S&P Global Market Intelligence, as it also gained in the aftermath of the Fed's rate hike announcement on Wednesday.
On Holding demonstrated accelerating sales growth in the fourth quarter, with revenue jumping 91.9% year over year to $400.5 million. Estimates weren't available for comparison, but analysts were clearly impressed by the report. UBS called the results exceptional and a number of analysts raised their price targets following the release.
Source Fool.com
