ON (NYSE:ONON) Upgraded to “Overweight” by Evercore ISI

Evercore ISI upgraded shares of ON (NYSE:ONON) to an overweight rating in a research note released on Monday. They currently have $47.00 target price on the stock, up from their prior target price of $43.00.

ONON has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their price target on ON from $40.00 to $47.00 and gave the stock an overweight rating in a report on Monday, June 17th. Stifel Nicolaus raised their price target on shares of ON from $41.00 to $45.00 and gave the company a buy rating in a report on Monday. Morgan Stanley boosted their price objective on shares of ON from $40.00 to $44.00 and gave the stock an overweight rating in a report on Tuesday, July 23rd. Barclays raised their target price on ON from $38.00 to $40.00 and gave the company an overweight rating in a research note on Wednesday, May 15th. Finally, William Blair began coverage on ON in a research note on Tuesday, April 16th. They issued an outperform rating on the stock. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $45.11.

ON Trading Up 5.4 %

Shares of ONON stock opened at $42.75 on Monday. The company has a market cap of $26.92 billion, a PE ratio of 96.52, a P/E/G ratio of 1.16 and a beta of 2.22. The company’s fifty day simple moving average is $39.61 and its 200-day simple moving average is $35.67. ON has a 52 week low of $23.41 and a 52 week high of $44.30.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.12 by $0.20. ON had a return on equity of 11.13% and a net margin of 6.46%. The company had revenue of $581.41 million for the quarter, compared to analyst estimates of $555.52 million. Equities research analysts expect that ON will post 0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On ON

A number of large investors have recently bought and sold shares of ONON. Ameritas Advisory Services LLC boosted its holdings in shares of ON by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock valued at $924,000 after acquiring an additional 300 shares during the period. Artemis Investment Management LLP boosted its stake in 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 period. Crossmark Global Holdings Inc. grew its position in ON by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after purchasing an additional 325 shares during the last quarter. Asset Dedication LLC grew its position in ON by 25.8% in the 2nd 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. Finally, Asset Management One Co. Ltd. increased its stake in shares of ON by 20.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,145 shares of the company’s stock valued at $60,000 after purchasing an additional 367 shares during the period. Institutional investors own 33.11% of the company’s stock.

About ON

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.