BMO Capital Markets upgraded shares of ON (NYSE:ONON – Free Report) to a hold rating in a research report sent to investors on Tuesday morning,Zacks reports.
Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC decreased their price objective on shares of ON from $45.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. JPMorgan Chase & Co. began coverage on ON in a report on Thursday, July 2nd. They issued an “overweight” rating and a $51.00 target price on the stock. Telsey Advisory Group cut their price target on ON from $51.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings downgraded ON from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Finally, Truist Financial decreased their price target on ON from $48.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.43.
Read Our Latest Stock Report on ONON
ON Stock Down 0.0%
ON (NYSE:ONON – Get Free Report) last posted its quarterly 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 return on equity of 22.92% and a net margin of 12.09%.The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm earned ($0.09) EPS. The company’s revenue was up 13.5% on a year-over-year basis. As a group, equities research analysts predict that ON will post 1.47 earnings per share for the current fiscal year.
Insider Buying and Selling at ON
In related news, CEO Caspar Coppetti bought 65,000 shares of the stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $30.67 per share, for a total transaction of $1,993,550.00. Following the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Olivier Bernhard bought 65,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the transaction, the insider directly 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 SEC filing for this purchase provides additional information. Corporate insiders own 68.57% of the company’s stock.
Hedge Funds Weigh In On ON
Large investors have recently bought and sold shares of the stock. Jacobi Capital Management LLC increased its position in shares of ON by 3.6% during the fourth quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock worth $320,000 after acquiring an additional 240 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in ON by 2.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock valued at $571,000 after purchasing an additional 285 shares during the last quarter. Parallel Advisors LLC grew its stake in ON by 2.8% during the 4th quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock valued at $486,000 after purchasing an additional 285 shares in the last quarter. MetLife Investment Management LLC grew its stake in ON by 2.2% during the 4th quarter. MetLife Investment Management LLC now owns 14,411 shares of the company’s stock valued at $670,000 after purchasing an additional 308 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in 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 purchasing an additional 312 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.
About ON
On Holding AG, known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company is particularly recognized for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and Speedboard components designed to support comfort, responsiveness and energy return.
On serves athletes and consumers across categories including running, outdoor activities, training and everyday performance. Its products are sold through the company’s direct-to-consumer channels, including its website and branded retail stores, as well as through a network of wholesale partners in markets around the world.
On was founded in 2010 in Switzerland by Olivier Bernhard, David Allemann and Caspar Coppetti.
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