ON (NYSE:ONON) Upgraded to “Hold” at Zacks Research

ON (NYSE:ONON) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

Several other analysts also recently weighed in on ONON. Capital One Financial set a $28.00 target price on ON in a research note on Tuesday, September 8th. Telsey Advisory Group cut their price target on ON from $51.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. Jefferies Financial Group restated an “underperform” rating on shares of ON in a research report on Friday, September 18th. UBS Group reissued a “buy” rating on shares of ON in a report on Wednesday, September 23rd. Finally, BMO Capital Markets increased their price target on shares of ON from $28.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

ON Stock Up 0.3%

ONON opened at $35.46 on Monday. The company has a market capitalization of $22.63 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 0.70 and a beta of 2.08. The business has a 50-day moving average of $30.49 and a 200-day moving average of $34.44. ON has a fifty-two week low of $26.36 and a fifty-two week high of $51.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.35 earnings per share (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 period in the previous year, the firm posted ($0.09) EPS. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts forecast that ON will post 1.51 EPS for the current fiscal year.

Insider Buying and Selling at ON

In related news, CEO Caspar Coppetti acquired 65,000 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer owned 2,440,855 shares of the company’s stock, valued at $74,861,022.85. This trade represents a 2.74% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Olivier Bernhard purchased 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 completion of the purchase, the insider owned 5,228,184 shares in the company, valued at $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.

Institutional Investors Weigh In On ON

Institutional investors have recently bought and sold shares of the company. Platinum Paramount Investment LTD. bought a new stake in ON during the fourth quarter worth about $525,784,000. Bamco Inc. NY increased its stake in shares of ON by 13.9% during the fourth 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 during the period. Wellington Management Group LLP increased its position in ON by 2.3% during the second quarter. Wellington Management Group LLP now owns 2,751,615 shares of the company’s stock worth $97,462,000 after acquiring an additional 62,404 shares during the period. Bessemer Group Inc. boosted its stake in shares of ON by 5.7% in the first quarter. Bessemer Group Inc. now owns 1,194,774 shares of the company’s stock valued at $40,647,000 after buying an additional 63,932 shares during the period. Finally, APEIRON CAPITAL Ltd raised its stake in ON by 25.2% in the first quarter. APEIRON CAPITAL Ltd now owns 996,052 shares of the company’s stock valued at $33,886,000 after purchasing an additional 200,200 shares in the last quarter. Institutional investors own 36.39% of the company’s stock.

About ON

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.