ON (NYSE:ONON) Upgraded by Williams Trading to Buy Rating

ON (NYSE:ONON) was upgraded by stock analysts at Williams Trading from a “hold” rating to a “buy” rating in a report released on Wednesday,Benzinga reports. The firm currently has a $60.00 price objective on the stock, up from their previous price objective of $40.00. Williams Trading’s price target suggests a potential upside of 14.00% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Truist Financial boosted their target price on ON from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Robert W. Baird boosted their target price on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley upped their price target on ON from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Hsbc Global Res raised ON to a “hold” rating in a research report on Thursday, September 5th. Finally, Raymond James assumed coverage on ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price target for the company. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.45.

ON Trading Down 0.2 %

ONON opened at $52.63 on Wednesday. ON has a 12-month low of $24.15 and a 12-month high of $54.00. The stock has a 50-day moving average price of $49.10 and a 200-day moving average price of $42.90. The stock has a market capitalization of $33.14 billion, a P/E ratio of 99.30 and a beta of 2.25.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The company had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. On average, equities research analysts predict that ON will post 0.75 EPS for the current year.

Institutional Trading of ON

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd purchased a new stake in shares of ON in the 3rd quarter worth approximately $658,000. Penserra Capital Management LLC boosted its stake in ON by 17.4% during the 3rd quarter. Penserra Capital Management LLC now owns 33,801 shares of the company’s stock valued at $1,694,000 after purchasing an additional 5,000 shares during the last quarter. Cerity Partners LLC boosted its stake in ON by 189.9% during the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock valued at $36,083,000 after purchasing an additional 471,323 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in ON during the 3rd quarter valued at $4,224,000. Finally, King Luther Capital Management Corp boosted its stake in ON by 1.0% during the 3rd quarter. King Luther Capital Management Corp now owns 56,595 shares of the company’s stock valued at $2,838,000 after purchasing an additional 574 shares during the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.