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In the latest market close, On Holding (ONON) reached $37.03, with a +1.09% movement compared to the previous day. This change outpaced the S&P 500's 0.88% loss on the day. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 1.95%.

The the stock of running-shoe and apparel company has fallen by 16.04% in the past month, lagging the Consumer Discretionary sector's loss of 2.04% and the S&P 500's gain of 5.11%.

The upcoming earnings release of On Holding will be of great interest to investors. It is anticipated that the company will report an EPS of $0.19, marking a 375% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $622.07 million, up 25.87% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.95 per share and revenue of $2.56 billion. These totals would mark changes of +143.59% and +28.17%, respectively, from last year.

Investors should also take note of any recent adjustments to analyst estimates for On Holding. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.65% upward. On Holding presently features a Zacks Rank of #3 (Hold).

In terms of valuation, On Holding is currently trading at a Forward P/E ratio of 38.56. This indicates a premium in contrast to its industry's Forward P/E of 12.68.

One should further note that ONON currently holds a PEG ratio of 0.88. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Leisure and Recreation Products industry had an average PEG ratio of 1.1 as trading concluded yesterday.

The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 225, this industry ranks in the bottom 11% of all industries, numbering over 250.

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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.