ON (NYSE:ONON) Research Coverage Started at Berenberg Bank

Research analysts at Berenberg Bank initiated coverage on shares of ON (NYSE:ONONGet Rating) in a report issued on Tuesday, Benzinga reports. The firm set a “buy” rating and a $31.00 price target on the stock. Berenberg Bank’s target price indicates a potential upside of 20.95% from the company’s previous close.

ONON has been the topic of a number of other reports. UBS Group reduced their price objective on shares of ON from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, March 21st. Morgan Stanley lowered their price objective on shares of ON from $41.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, March 21st. Telsey Advisory Group lowered their price objective on shares of ON from $53.00 to $39.00 and set an “outperform” rating for the company in a research note on Wednesday, March 16th. Finally, Zacks Investment Research downgraded shares of ON from a “hold” rating to a “sell” rating in a research report on Saturday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, ON has a consensus rating of “Hold” and an average price target of $38.82.

NYSE ONON traded up $1.08 on Tuesday, hitting $25.63. 7,442 shares of the stock were exchanged, compared to its average volume of 2,634,137. The business’s fifty day moving average is $24.88 and its 200 day moving average is $31.19. ON has a 52 week low of $19.75 and a 52 week high of $55.87.

ON (NYSE:ONONGet Rating) last issued its quarterly earnings data on Friday, March 18th. The company reported ($0.65) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.04). The firm had revenue of $207.32 million for the quarter, compared to the consensus estimate of $195.28 million. On average, research analysts anticipate that ON will post -0.14 EPS for the current fiscal year.

Several large investors have recently modified their holdings of ONON. Cubist Systematic Strategies LLC bought a new stake in ON in the 3rd quarter valued at about $36,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in ON in the 3rd quarter valued at about $52,000. Citigroup Inc. bought a new stake in ON in the 3rd quarter valued at about $54,000. IFP Advisors Inc increased its position in shares of ON by 61.9% during the fourth quarter. IFP Advisors Inc now owns 1,850 shares of the company’s stock valued at $69,000 after buying an additional 707 shares during the period. Finally, Monetary Management Group Inc. bought a new stake in shares of ON during the fourth quarter valued at about $76,000. 17.61% of the stock is currently owned by institutional investors.

ON Company Profile (Get Rating)

On Holding AG develops and distributes sports products worldwide. It offers its products through independent retailers and distributors, online, and stores. The company was founded in 2010 and is headquartered in Zurich, Switzerland.

Further Reading

Analyst Recommendations for ON (NYSE:ONON)

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