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. Evercore ISI currently has $47.00 price objective on the stock, up from their previous price objective of $43.00.

ONON has been the subject of a number of other reports. TD Cowen raised their price objective on ON from $36.00 to $38.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Telsey Advisory Group restated an outperform rating and set a $47.00 price objective on shares of ON in a research report on Tuesday, August 6th. Raymond James initiated coverage on ON in a research report on Wednesday, July 31st. They set an outperform rating and a $46.00 price objective for the company. Stifel Nicolaus lifted their price target on ON from $41.00 to $45.00 and gave the company a buy rating in a report on Monday. Finally, Barclays lifted their price target on ON from $38.00 to $40.00 and gave the company an overweight rating in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $45.11.

ON Stock Up 5.4 %

NYSE:ONON opened at $42.75 on Monday. ON has a 1-year low of $23.41 and a 1-year high of $44.30. The firm has a market capitalization of $26.92 billion, a price-to-earnings ratio of 96.52, a price-to-earnings-growth ratio of 1.16 and a beta of 2.22. The stock has a fifty day simple moving average of $39.61 and a 200 day simple moving average of $35.67.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. VisionPoint Advisory Group LLC bought a new position in ON in the 4th quarter worth approximately $32,000. Orion Capital Management LLC increased its position in ON by 1,100.0% in the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after buying an additional 1,100 shares during the period. Global Wealth Management Investment Advisory Inc. bought a new position in ON in the 4th quarter worth approximately $33,000. WD Rutherford LLC bought a new position in ON in the 1st quarter worth approximately $52,000. Finally, Asset Dedication LLC increased 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 buying an additional 327 shares during the period. 33.11% of the stock is owned by institutional investors.

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.