ON (NYSE:ONON) Upgraded to “Buy” at Williams Trading

Williams Trading upgraded shares of ON (NYSE:ONON) from a hold rating to a buy rating in a report published on Wednesday morning,Benzinga reports. Williams Trading currently has $60.00 target price on the stock, up from their prior target price of $40.00.

ONON has been the subject of several other reports. Piper Sandler lifted their price objective on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Hsbc Global Res raised shares of ON to a “hold” rating in a report on Thursday, September 5th. TD Cowen raised their target price on shares of ON from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Telsey Advisory Group reiterated an “outperform” rating and set a $53.00 target price on shares of ON in a research note on Tuesday. Finally, KeyCorp raised their price target on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.33.

ON Price Performance

Shares of ON stock opened at $53.55 on Wednesday. The stock has a market cap of $33.72 billion, a price-to-earnings ratio of 122.58 and a beta of 2.25. ON has a 1 year low of $25.78 and a 1 year high of $56.44. The firm’s 50-day moving average is $49.24 and its 200 day moving average is $42.97.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a net margin of 5.87% and a return on equity of 11.02%. The firm had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. On average, equities analysts expect that ON will post 0.75 EPS for the current fiscal year.

Institutional Trading of ON

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC grew its holdings in ON by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock valued at $924,000 after buying an additional 300 shares in the last quarter. Capital Advisors Inc. OK lifted its stake in ON by 5.1% in the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock worth $310,000 after purchasing an additional 301 shares in the last quarter. Artemis Investment Management LLP boosted its holdings in shares of ON by 1.9% during the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock valued at $637,000 after purchasing an additional 302 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of ON by 3.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock valued at $404,000 after purchasing an additional 325 shares during the last quarter. Finally, Asset Dedication LLC increased its holdings in shares of ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after purchasing an additional 327 shares during the last quarter. Institutional investors own 33.11% of the company’s stock.

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.