ON (NYSE:ONON) Now Covered by Analysts at Wells Fargo & Company

by · The Markets Daily

Research analysts at Wells Fargo & Company began coverage on shares of ON (NYSE:ONON – Get Free Report) in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage set an “overweight” rating and a $48.00 price target on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 31.24% from the company’s current price.

ONON has been the subject of a number of other reports. Telsey Advisory Group lowered their price target on ON from $51.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. BTIG Research reissued a “buy” rating and issued a $60.00 price objective on shares of ON in a report on Tuesday. Cantor Fitzgerald raised ON to a “buy” rating in a report on Tuesday. Barclays lifted their price objective on shares of ON from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, September 24th. Finally, Wolfe Research started coverage on shares of ON in a report on Wednesday, October 21st. They issued an “outperform” rating and a $47.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.73.

View Our Latest Analysis on ONON

ON Stock Up 3.0%

Shares of NYSE ONON opened at $36.57 on Wednesday. The company has a market cap of $23.34 billion, a P/E ratio of 24.88, a P/E/G ratio of 0.70 and a beta of 2.05. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 0.25. ON has a 12-month low of $26.36 and a 12-month high of $51.08. The stock has a fifty day moving average price of $30.97 and a 200 day moving average price of $36.62.

ON (NYSE:ONON – Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.09 billion. ON had a net margin of 12.09% and a return on equity of 22.92%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share. Research analysts anticipate that ON will post 1.50 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Olivier Bernhard acquired 65,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the acquisition, the insider owned 5,228,184 shares in the company, valued at approximately $160,348,403.28. The trade was a 1.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Caspar Coppetti purchased 65,000 shares of ON stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the acquisition, the chief executive officer owned 2,440,855 shares in the company, valued at $74,861,022.85. The trade was a 2.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in ON by 69.6% during the first quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after buying an additional 312 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in shares of ON by 5,181.2% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 845 shares of the company’s stock worth $25,000 after buying an additional 829 shares during the period. Ascentis Independent Advisors bought a new stake in shares of ON in the 1st quarter valued at about $34,000. Guardian Partners Inc. bought a new stake in shares of ON in the 3rd quarter valued at about $41,000. Finally, Signaturefd LLC raised its position in shares of ON by 29.5% in the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the company’s stock valued at $47,000 after acquiring an additional 364 shares during the period. 36.39% of the stock is owned by institutional investors.

About ON

(Get Free Report)

On Holding AG, commonly known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company serves athletes and everyday consumers with products designed for running, training, outdoor activities and lifestyle use.

On is best known for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and the Speedboard propulsion system. Its product portfolio also includes athletic clothing, outerwear and accessories.

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