ON (NYSE:ONON) Stock Rating Upgraded by BTIG Research

ON (NYSE:ONON - Get Free Report) was upgraded by research analysts at BTIG Research from a "neutral" rating to a "buy" rating in a research report issued on Wednesday, Marketbeat.com reports. The firm presently has a $64.00 price target on the stock. BTIG Research's price objective indicates a potential upside of 19.76% from the company's previous close.

A number of other equities research analysts have also recently issued reports on ONON. Raymond James started coverage on shares of ON in a research note on Wednesday, July 31st. They issued an "outperform" rating and a $46.00 price objective for the company. HSBC assumed coverage on shares of ON in a research note on Thursday, September 5th. They issued a "hold" rating and a $52.00 target price on the stock. Barclays increased their price target on shares of ON from $40.00 to $47.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. Bank of America upgraded shares of ON from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $21.00 to $55.00 in a research report on Monday, September 23rd. Finally, UBS Group increased their target price on shares of ON from $55.00 to $61.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $53.50.

ON Trading Up 1.6 %

Shares of ONON traded up $0.82 during midday trading on Wednesday, reaching $53.44. The stock had a trading volume of 5,265,895 shares, compared to its average volume of 4,991,902. The company has a market capitalization of $33.65 billion, a price-to-earnings ratio of 126.07 and a beta of 2.25. The company's 50-day moving average is $49.10 and its 200 day moving average is $42.90. ON has a 12-month low of $24.15 and a 12-month high of $56.44.

ON (NYSE:ONON - Get Free Report) last issued its quarterly 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 net margin of 5.87% and a return on equity of 11.02%. The business had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. Research analysts forecast that ON will post 0.75 EPS for the current fiscal year.

Institutional Trading of ON

Several institutional investors have recently bought and sold shares of the company. Private Trust Co. NA purchased a new position in ON in the third quarter worth about $26,000. Blue Trust Inc. increased its position in shares of ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company's stock valued at $27,000 after acquiring an additional 403 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in ON in the 3rd quarter worth approximately $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. Finally, Quarry LP bought a new position in shares of ON during the second quarter valued at $32,000. 33.11% of the stock is owned by hedge funds and other 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.