ON (NYSE:ONON) Receives Buy Rating from Stifel Nicolaus

ON (NYSE:ONON)‘s stock had its “buy” rating restated by equities research analysts at Stifel Nicolaus in a research report issued on Thursday, Benzinga reports. They presently have a $41.00 target price on the stock. Stifel Nicolaus’ price target indicates a potential upside of 12.14% from the stock’s current price.

A number of other brokerages have also weighed in on ONON. Morgan Stanley raised their target price on ON from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group boosted their price objective on ON from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday. Telsey Advisory Group lifted their target price on shares of ON from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday. Redburn Atlantic reaffirmed a “neutral” rating and set a $34.00 price objective on shares of ON in a research note on Thursday, March 7th. Finally, TheStreet lowered ON from a “c” rating to a “d+” rating in a research report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus price target of $39.87.

ON Stock Up 0.4 %

ON stock traded up $0.14 on Thursday, hitting $36.56. The company’s stock had a trading volume of 3,757,402 shares, compared to its average volume of 5,365,053. The company has a fifty day moving average price of $33.15 and a 200-day moving average price of $30.35. The firm has a market cap of $23.02 billion, a P/E ratio of 134.15, a price-to-earnings-growth ratio of 1.08 and a beta of 2.17. ON has a one year low of $23.41 and a one year high of $37.49.

ON (NYSE:ONON) last posted its earnings results on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.18). The company had revenue of $504.69 million for the quarter, compared to the consensus estimate of $515.30 million. ON had a return on equity of 6.85% and a net margin of 4.04%. Analysts anticipate that ON will post 0.65 EPS for the current year.

Institutional Investors Weigh In On ON

Several institutional investors have recently bought and sold shares of ONON. Allspring Global Investments Holdings LLC lifted its position in shares of ON by 4.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock worth $46,076,000 after purchasing an additional 76,746 shares in the last quarter. Liontrust Investment Partners LLP grew its holdings in shares of ON by 204.7% in the 3rd quarter. Liontrust Investment Partners LLP now owns 517,942 shares of the company’s stock valued at $14,410,000 after acquiring an additional 347,942 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in ON by 127.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 131,585 shares of the company’s stock valued at $3,549,000 after purchasing an additional 73,839 shares during the last quarter. Baltimore Washington Financial Advisors Inc. grew its stake in ON by 10.3% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 292,338 shares of the company’s stock valued at $8,133,000 after purchasing an additional 27,206 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of ON by 10.6% during the 3rd quarter. California Public Employees Retirement System now owns 397,752 shares of the company’s stock worth $11,065,000 after purchasing an additional 38,103 shares during the last quarter. 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.