ON (NYSE:ONON – Free Report) had its price target lowered by Stifel Nicolaus from $60.00 to $41.00 in a report published on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.
Other equities analysts have also recently issued reports about the company. KeyCorp reissued an “overweight” rating on shares of ON in a report on Monday. William Blair lowered ON from an “outperform” rating to a “market perform” rating in a research note on Tuesday. JPMorgan Chase & Co. initiated coverage on ON in a report on Thursday, July 2nd. They set an “overweight” rating and a $51.00 price objective for the company. The Goldman Sachs Group set a $42.00 target price on shares of ON in a research note on Wednesday. Finally, Truist Financial lowered their target price on shares of ON from $48.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.57.
Check Out Our Latest Stock Analysis on ON
ON Stock Performance
ON (NYSE:ONON – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.09 billion. ON had a net margin of 12.09% and a return on equity of 22.92%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.09) earnings per share. As a group, analysts expect that ON will post 1.51 earnings per share for the current year.
Institutional Investors Weigh In On ON
Large investors have recently added to or reduced their stakes in the stock. Caitlin John LLC acquired a new stake in shares of ON during the 4th quarter worth $25,000. Cullen Frost Bankers Inc. raised its position in shares of ON by 639.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after buying an additional 467 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of ON in the 4th quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of ON by 555.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after acquiring an additional 594 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after acquiring an additional 312 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.
Key ON News
Here are the key news stories impacting ON this week:
- Positive Sentiment: The stock’s rebound suggests some investors may view the August 11 selloff as an overreaction. On Holding’s underlying business still delivered year-over-year revenue growth, although the company’s revised guidance remains a concern. On Holding Just Had Its Worst Trading Day Ever
- Neutral Sentiment: Analyst commentary remains divided on On Holding and other consumer-cyclical companies, indicating uncertainty about the company’s growth trajectory, brand demand and expansion across sales channels. Analysts Offer Insights on Consumer Cyclical Companies Analysts Have Conflicting Sentiments
- Negative Sentiment: Telsey Advisory Group lowered its price target to $43, adding to investor concerns about valuation and slower-than-expected growth. Telsey Advisory Group Lowers ON Price Target
- Negative Sentiment: Robert W. Baird and UBS Group also reduced their expectations for ONON, reinforcing a broad analyst reassessment following the earnings report. Robert W. Baird Lowers Expectations UBS Lowers Expectations
- Negative Sentiment: BTIG issued a pessimistic forecast, while William Blair downgraded the stock to Market Perform and Needham issued a similarly cautious outlook. These actions could limit upside in the near term. BTIG Research Forecast William Blair Downgrade Needham Forecast
- Negative Sentiment: The key catalyst behind the analyst cuts was On Holding’s second-quarter earnings miss and trimmed guidance. Shares remain below their 50-day and 200-day moving averages, highlighting continued technical weakness. On Holding Global Brand Demand and Channel Expansion
ON Company Profile
On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.
On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.
Further Reading
- Five stocks we like better than ON
- Sony and TSMC’s $4.7 Billion Venture Is About More Than Camera Sensors
- Quantum Leaps: Debt-Free as AI Storage Demand Accelerates
- NVIDIA’s $500 Billion GPU Financing Deal Fuels Path Toward $270
- Sandisk’s Margins Look Like Software. Can They Last?
Receive News & Ratings for ON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ON and related companies with MarketBeat.com's FREE daily email newsletter.
