Equities researchers at Wells Fargo & Company began coverage on shares of ON (NYSE:ONON – Get Free Report) in a note issued to investors on Wednesday, Benzinga reports. The firm set an “overweight” rating and a $48.00 price target on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 31.24% from the company’s previous close.
Other research analysts have also issued research reports about the stock. Telsey Advisory Group lowered their price objective on shares of ON from $51.00 to $43.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th. Wall Street Zen cut ON from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Wolfe Research began coverage on shares of ON in a report on Wednesday, October 21st. They issued an “outperform” rating and a $47.00 target price for the company. Weiss Ratings raised shares of ON from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, Morgan Stanley began coverage on shares of ON in a research report on Thursday, September 10th. They issued an “overweight” rating and a $39.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ON currently has an average rating of “Moderate Buy” and an average price target of $43.73.
Get Our Latest Stock Analysis on ON
ON Trading Up 3.0%
Shares of ONON opened at $36.57 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 0.25. ON has a 12-month low of $26.36 and a 12-month high of $51.08. The firm has a 50-day moving average price of $30.97 and a 200 day moving average price of $36.62. The firm has a market capitalization of $23.34 billion, a P/E ratio of 24.88, a P/E/G ratio of 0.70 and a beta of 2.05.
ON (NYSE:ONON – Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). ON had a net margin of 12.09% and a return on equity of 22.92%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the firm earned ($0.09) EPS. ON’s revenue for the quarter was up 13.5% compared to the same quarter last year. Sell-side analysts forecast that ON will post 1.50 EPS for the current year.
Insider Buying and Selling at ON
In other ON news, insider Olivier Bernhard acquired 65,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the purchase, the insider owned 5,228,184 shares in the company, valued at approximately $160,348,403.28. The trade was a 1.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Caspar Coppetti acquired 65,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the purchase, the chief executive officer owned 2,440,855 shares in the company, valued at approximately $74,861,022.85. This represents a 2.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.
Institutional Trading of ON
Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of ON by 69.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $26,000 after purchasing an additional 312 shares in the last quarter. Signaturefd LLC grew its holdings in shares of ON by 29.5% during the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the company’s stock worth $47,000 after purchasing an additional 364 shares during the period. City Center Advisors LLC grew its stake in ON by 5.2% during the third quarter. City Center Advisors LLC now owns 8,675 shares of the company’s stock worth $257,000 after buying an additional 429 shares during the period. Glenmede Trust Co. NA increased its position in shares of ON by 6.1% in the first quarter. Glenmede Trust Co. NA now owns 7,592 shares of the company’s stock worth $258,000 after acquiring an additional 439 shares in the last quarter. Finally, PVG Asset Management Corp increased its position in shares of ON by 5.4% in the second quarter. PVG Asset Management Corp now owns 9,341 shares of the company’s stock worth $331,000 after acquiring an additional 480 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.
ON Company Profile
On Holding AG, commonly known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company serves athletes and everyday consumers with products designed for running, training, outdoor activities and lifestyle use.
On is best known for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and the Speedboard propulsion system. Its product portfolio also includes athletic clothing, outerwear and accessories.
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