Equities research analysts at HSBC began coverage on shares of ON (NYSE:ONON – Get Free Report) in a research note issued on Thursday, Benzinga reports. The brokerage set a “hold” rating and a $52.00 price target on the stock. HSBC’s price objective indicates a potential upside of 13.79% from the stock’s current price.
ONON has been the subject of a number of other research reports. Truist Financial boosted their price objective on ON from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Sanford C. Bernstein assumed coverage on ON in a report on Tuesday, June 11th. They issued an “outperform” rating and a $50.00 price objective on the stock. Evercore ISI raised ON to an “overweight” rating and increased their target price for the stock from $43.00 to $47.00 in a research note on Monday, August 12th. TD Cowen raised their price target on ON from $48.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, UBS Group increased their price objective on ON from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, ON presently has an average rating of “Moderate Buy” and an average price target of $46.16.
Read Our Latest Report on ONON
ON Trading Down 0.8 %
ON (NYSE:ONON – Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The firm had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. On average, equities analysts forecast that ON will post 0.83 EPS for the current year.
Institutional Trading of ON
A number of institutional investors and hedge funds have recently made changes to their positions in ONON. Spire Wealth Management increased its holdings in ON by 66.2% in the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock valued at $45,000 after purchasing an additional 643 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in ON in the 4th quarter valued at $694,000. Principal Securities Inc. acquired a new stake in ON in the 4th quarter valued at $88,000. VisionPoint Advisory Group LLC acquired a new stake in ON in the 4th quarter valued at $32,000. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in ON by 19.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 12,848 shares of the company’s stock valued at $347,000 after purchasing an additional 2,114 shares in the last quarter. 33.11% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also
- Five stocks we like better than ON
- Conference Calls and Individual Investors
- 3 ETFs to Build a Simple and Balanced Stock Portfolio
- How to Know Which Cryptocurrency to Buy: A Guide for Investors
- Charles Schwab’s Initiative Changes Are a Long-Term Positive
- What Are Dividend Champions? How to Invest in the Champions
- 3 Stocks to Watch as the Economy Shifts to the Cloud
Receive News & Ratings for ON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ON and related companies with MarketBeat.com's FREE daily email newsletter.