ON (NYSE:ONON) Upgraded by Williams Trading to Buy Rating

ON (NYSE:ONON) was upgraded by equities researchers at Williams Trading from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a $60.00 target price on the stock, up from their prior target price of $40.00. Williams Trading’s target price would suggest a potential upside of 14.00% from the company’s current price.

ONON has been the subject of a number of other reports. Telsey Advisory Group restated an “outperform” rating and set a $53.00 price objective on shares of ON in a research report on Tuesday. Evercore ISI upgraded ON to an “overweight” rating and raised their price objective for the stock from $43.00 to $47.00 in a research report on Monday, August 12th. Barclays raised their price objective on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus raised their target price on ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Morgan Stanley raised their target price on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy 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 $52.45.

ON Trading Down 0.2 %

ON stock opened at $52.63 on Wednesday. The company has a market capitalization of $33.14 billion, a PE ratio of 99.30 and a beta of 2.25. ON has a 12 month low of $24.15 and a 12 month high of $54.00. The stock has a 50-day moving average price of $49.10 and a two-hundred day moving average price of $42.90.

ON (NYSE:ONON) last posted its earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The firm had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. As a group, analysts predict that ON will post 0.75 earnings per share for the current fiscal year.

Institutional Trading of ON

A number of hedge funds have recently bought and sold shares of ONON. Harvest Fund Management Co. Ltd bought a new stake in shares of ON in the third quarter valued at $658,000. Penserra Capital Management LLC grew its position in ON by 17.4% during the third quarter. Penserra Capital Management LLC now owns 33,801 shares of the company’s stock worth $1,694,000 after buying an additional 5,000 shares in the last quarter. Cerity Partners LLC grew its position in ON by 189.9% during the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after buying an additional 471,323 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in ON during the third quarter worth about $4,224,000. Finally, King Luther Capital Management Corp grew its position in ON by 1.0% during the third quarter. King Luther Capital Management Corp now owns 56,595 shares of the company’s stock worth $2,838,000 after buying an additional 574 shares in the last quarter. 33.11% of the stock is currently owned by institutional investors.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.