ON (NYSE:ONON - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday, Zacks reports.
ONON has been the topic of several other research reports. Weiss Ratings upgraded ON from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. The Goldman Sachs Group restated a "buy" rating on shares of ON in a research note on Tuesday, September 22nd. UBS Group reissued a "buy" rating on shares of ON in a research report on Wednesday, September 23rd. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of ON in a report on Thursday, September 24th. Finally, Telsey Advisory Group reduced 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. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.17.
View Our Latest Report on ONON
ON Price Performance
ON stock opened at $35.46 on Monday. The company has a fifty day simple moving average of $30.49 and a 200-day simple moving average of $34.44. The firm has a market capitalization of $22.63 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 0.70 and a beta of 2.08. The company has a quick ratio of 2.25, a current ratio of 2.83 and a debt-to-equity ratio of 0.25. ON has a 52-week low of $26.36 and a 52-week high of $51.08.
ON (NYSE:ONON - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.07). The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%. The business's revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. On average, equities analysts anticipate that ON will post 1.51 EPS for the current fiscal year.
Insider Transactions at ON
In related news, CEO Caspar Coppetti acquired 65,000 shares of the stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the purchase, the chief executive officer directly owned 2,440,855 shares of the company's stock, valued at approximately $74,861,022.85. This represents a 2.74% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Olivier Bernhard bought 65,000 shares of ON stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $30.67 per share, for a total transaction of $1,993,550.00. Following the acquisition, the insider directly owned 5,228,184 shares of the company's stock, valued at $160,348,403.28. The trade was a 1.26% increase in their position. The SEC filing for this purchase provides additional information.
Institutional Trading of ON
A number of institutional investors and hedge funds have recently bought and sold shares of ONON. Platinum Paramount Investment LTD. bought a new position in ON during the fourth quarter valued at about $525,784,000. Bamco Inc. NY raised its holdings in shares of ON by 13.9% in the 4th quarter. Bamco Inc. NY now owns 5,405,486 shares of the company's stock worth $251,247,000 after purchasing an additional 658,933 shares in the last quarter. Wellington Management Group LLP lifted its stake in ON by 2.3% during the second quarter. Wellington Management Group LLP now owns 2,751,615 shares of the company's stock valued at $97,462,000 after purchasing an additional 62,404 shares during the last quarter. Bessemer Group Inc. boosted its holdings in ON by 5.7% during the first quarter. Bessemer Group Inc. now owns 1,194,774 shares of the company's stock worth $40,647,000 after buying an additional 63,932 shares in the last quarter. Finally, APEIRON CAPITAL Ltd lifted its position in shares of ON by 25.2% during the 1st quarter. APEIRON CAPITAL Ltd now owns 996,052 shares of the company's stock valued at $33,886,000 after acquiring an additional 200,200 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.
ON Company Profile
(
Get Free Report)
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
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