ON (NYSE:ONON – Free Report) had its price target increased by JPMorgan Chase & Co. from $41.00 to $44.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.
ONON has been the subject of a number of other research reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of ON in a research note on Thursday, September 24th. Wall Street Zen downgraded shares of ON from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Telsey Advisory Group dropped their price target on shares of ON from $51.00 to $43.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. Bank of America cut their price target on shares of ON from $46.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, September 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of ON in a report on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.17.
Get Our Latest Research Report on ON
ON Price Performance
ON (NYSE:ONON – Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $1.09 billion. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities research analysts expect that ON will post 1.51 EPS for the current year.
Insiders Place Their Bets
In other ON news, CEO Caspar Coppetti purchased 65,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the chief executive officer owned 2,440,855 shares in the company, valued at approximately $74,861,022.85. This trade represents a 2.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Olivier Bernhard purchased 65,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the acquisition, the insider owned 5,228,184 shares in the company, valued at $160,348,403.28. This represents a 1.26% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 68.57% of the company’s stock.
Hedge Funds Weigh In On ON
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in shares of ON by 2.8% in the fourth quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock worth $486,000 after purchasing an additional 285 shares during the period. EverSource Wealth Advisors LLC boosted its stake in ON by 69.6% during 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 during the period. Wesbanco Bank Inc. grew its holdings in ON by 0.6% in the 1st quarter. Wesbanco Bank Inc. now owns 69,703 shares of the company’s stock valued at $2,371,000 after buying an additional 400 shares during the last quarter. Prasad Wealth Partners LLC grew its holdings in ON by 1.1% in the 1st quarter. Prasad Wealth Partners LLC now owns 38,455 shares of the company’s stock valued at $1,308,000 after buying an additional 422 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its position in ON by 6.1% in the 1st quarter. Glenmede Trust Co. NA now owns 7,592 shares of the company’s stock worth $258,000 after buying an additional 439 shares during the period. Hedge funds and other institutional investors own 36.39% of the company’s stock.
ON Company Profile
On Holding AG, trading on the New York Stock Exchange under the symbol ONON, is a Swiss sportswear company focused on performance footwear, apparel and accessories. The company serves athletes and active consumers with products designed for running, training, outdoor activities and everyday wear.
On is best known for its running shoes, which incorporate the company’s CloudTec cushioning technology and distinctive sole designs. Its product portfolio also includes athletic clothing, apparel and accessories, with offerings positioned across both performance and lifestyle categories.
Further Reading
- Five stocks we like better than ON
- Carnival and CarMax Pop on Strong Earnings, but Challenges Remain
- 3 Income Stocks Under $30 That Yield More Than the 10-Year Treasury Note
- 3 AI Winners, 3 Very Different Paths to Higher Margins
- Plexus Is Booming—But Can the Growth Story 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.
