On Holding (ONON) closed the most recent trading day at $50.61, moving -0.08% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.27% for the day. Elsewhere, the Dow gained 0.65%, while the tech-heavy Nasdaq added 0.26%.

Heading into today, shares of the running-shoe and apparel company had lost 0.94% over the past month, lagging the Consumer Discretionary sector's gain of 1.51% and the S&P 500's gain of 2% in that time.

Investors will be eagerly watching for the performance of On Holding in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.24, reflecting a 9.09% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $718.84 million, showing a 32.18% escalation compared to the year-ago quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.98 per share and revenue of $2.65 billion, indicating changes of +151.28% and +32.94%, respectively, compared to the previous year.

It is also important to note the recent changes to analyst estimates for On Holding. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, there's been a 3.27% fall in the Zacks Consensus EPS estimate. On Holding is currently sporting a Zacks Rank of #5 (Strong Sell).

Looking at its valuation, On Holding is holding a Forward P/E ratio of 51.76. This represents a premium compared to its industry's average Forward P/E of 16.48.

The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 177, placing it within the bottom 30% of over 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.