ON (NYSE:ONON) Given New $42.00 Price Target at KeyCorp

ON (NYSE:ONON) had its target price upped by KeyCorp from $37.00 to $42.00 in a research report report published on Wednesday morning, MarketBeat.com reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Citigroup reissued a “buy” rating on shares of ON in a research report on Wednesday, September 23rd. Barclays upped their price target on shares of ON from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, September 24th. BMO Capital Markets reaffirmed a “market perform” rating and set a $35.00 price target on shares of ON in a research report on Wednesday, October 28th. Capital One Financial set a $28.00 price target on shares of ON in a research note on Tuesday, September 8th. Finally, Wall Street Zen lowered shares of ON from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.82.

ON Stock Up 0.2%

Shares of NYSE:ONON opened at $34.77 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 0.25. The firm has a market cap of $22.19 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 0.69 and a beta of 2.05. The stock’s 50-day moving average price is $31.93 and its two-hundred day moving average price is $36.35. ON has a 12-month low of $26.36 and a 12-month high of $51.08.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, November 10th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.18. ON had a net margin of 12.41% and a return on equity of 23.62%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $0.43 EPS. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, research analysts forecast that ON will post 1.50 EPS for the current year.

Insider Activity

In other news, insider Olivier Bernhard acquired 65,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the acquisition, the insider directly owned 5,228,184 shares in the company, valued at $160,348,403.28. This trade represents a 1.26% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Caspar Coppetti acquired 65,000 shares of ON stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the purchase, the chief executive officer directly owned 2,440,855 shares in the company, valued at approximately $74,861,022.85. This represents a 2.74% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 68.57% of the company’s stock.

Institutional Trading of ON

A number of institutional investors and hedge funds have recently bought and sold shares of ONON. Wellington Management Group LLP increased its position in shares of ON by 2.3% in the second quarter. Wellington Management Group LLP now owns 2,751,615 shares of the company’s stock worth $97,462,000 after acquiring an additional 62,404 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of ON by 116.8% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,741,829 shares of the company’s stock valued at $51,571,000 after acquiring an additional 938,285 shares during the period. Bessemer Group Inc. lifted its holdings in shares of ON by 5.7% during the 1st quarter. Bessemer Group Inc. now owns 1,194,774 shares of the company’s stock valued at $40,647,000 after acquiring an additional 63,932 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of ON by 220.6% during the 3rd quarter. Voya Investment Management LLC now owns 1,002,302 shares of the company’s stock valued at $29,678,000 after acquiring an additional 689,634 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. lifted its holdings in shares of ON by 159.9% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 931,031 shares of the company’s stock valued at $27,568,000 after acquiring an additional 572,854 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Trending Headlines about ON

Here are a few of the latest headlines about ONON:

• Positive Sentiment: Analysts mostly kept or strengthened bullish ratings: Morgan Stanley raised its target to $43, JPMorgan to $46, and KeyCorp to $42, while UBS maintained a Buy rating despite lowering its target to $65. Analyst forecast revisions
• Positive Sentiment: Q3 EPS of $0.65 beat the $0.47 consensus estimate. Revenue grew 17.2% year over year to CHF 931.4 million, with direct-to-consumer sales up 25%. The company also raised its full-year comparable gross-margin outlook to about 66% and expects Q4 growth to accelerate. Q3 earnings report
• Negative Sentiment: The earnings beat may have been flattered by CHF 52.6 million in U.S. tariff refunds, which boosted reported profitability. Investors also appeared disappointed that On kept its full-year low-20% constant-currency sales-growth outlook and did not raise its adjusted EBITDA outlook. Inventory growth, promotional risks, and slower wholesale growth add to concerns. Analysis of the post-earnings decline

About ON

On Holding AG, which trades on the New York Stock Exchange under the symbol ONON, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. Its products serve runners and other athletes, as well as consumers seeking athletic-inspired everyday wear. The company is known for its running shoes, which feature its CloudTec cushioning technology. On also offers apparel and equipment for activities including running, training and outdoor sports, selling through wholesale partners and its own retail and online channels.