ON (NYSE:ONON) Coverage Initiated at HSBC

HSBC began coverage on shares of ON (NYSE:ONON) in a research report report published on Thursday, MarketBeat Ratings reports. The firm issued a hold rating and a $52.00 price target on the stock.

Other research analysts also recently issued research reports about the stock. Evercore ISI raised shares of ON to an overweight rating and boosted their target price for the company from $43.00 to $47.00 in a research note on Monday, August 12th. Morgan Stanley raised their target price on shares of ON from $44.00 to $46.00 and gave the stock an overweight rating in a research report on Wednesday, August 14th. KeyCorp lifted their target price on shares of ON from $40.00 to $47.00 and gave the stock an overweight rating in a research note on Wednesday, July 24th. Stifel Nicolaus raised their price objective on ON from $41.00 to $45.00 and gave the stock a buy rating in a report on Monday, August 12th. Finally, TD Cowen lifted their price objective on ON from $48.00 to $50.00 and gave the company a buy rating in a research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $46.16.

ON Trading Down 0.8 %

Shares of ONON opened at $44.44 on Thursday. The company has a 50-day moving average of $40.84 and a two-hundred day moving average of $37.58. The stock has a market cap of $27.98 billion, a P/E ratio of 101.00, a PEG ratio of 1.30 and a beta of 2.24. ON has a 12-month low of $23.41 and a 12-month high of $48.08.

ON (NYSE:ONON) last posted its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The company had revenue of $627.66 million during the quarter, compared to analysts’ expectations of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. As a group, analysts forecast that ON will post 0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On ON

Several hedge funds have recently modified their holdings of ONON. Ameritas Advisory Services LLC boosted its stake in shares of ON by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock valued at $924,000 after purchasing an additional 300 shares during the period. Artemis Investment Management LLP grew its position in shares of ON by 1.9% in the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock worth $637,000 after acquiring an additional 302 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in ON by 3.2% during the second 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. Asset Dedication LLC grew its position in shares of ON by 25.8% during the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after buying an additional 327 shares during the last quarter. Finally, King Luther Capital Management Corp raised its stake in ON by 0.7% during the second quarter. King Luther Capital Management Corp now owns 56,021 shares of the company’s stock worth $2,174,000 after acquiring an additional 405 shares during the period. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

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.