ON (ONON) – Research Analysts’ Recent Ratings Updates

ON (NYSE: ONON) has recently received a number of price target changes and ratings updates:

• 4/22/2022 – ON was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “On Holding AG operates as a holding company. The Company, through its subsidiaries, provides footwear and sports apparel product includes ultralight and stretchable fabrics and accessories. On Holding AG is based in ZURICH. “
• 4/19/2022 – ON is now covered by analysts at Berenberg Bank. They set a “buy” rating and a $31.00 price target on the stock.
• 4/16/2022 – ON was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “On Holding AG operates as a holding company. The Company, through its subsidiaries, provides footwear and sports apparel product includes ultralight and stretchable fabrics and accessories. On Holding AG is based in ZURICH. “
• 4/8/2022 – ON was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “On Holding AG operates as a holding company. The Company, through its subsidiaries, provides footwear and sports apparel product includes ultralight and stretchable fabrics and accessories. On Holding AG is based in ZURICH. “
• 3/23/2022 – ON was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $30.00 price target on the stock. According to Zacks, “On Holding AG operates as a holding company. The Company, through its subsidiaries, provides footwear and sports apparel product includes ultralight and stretchable fabrics and accessories. On Holding AG is based in ZURICH. “
• 3/21/2022 – ON had its price target lowered by analysts at Morgan Stanley from $41.00 to $38.00. They now have an “overweight” rating on the stock.
• 3/21/2022 – ON had its price target lowered by analysts at UBS Group AG from $55.00 to $50.00. They now have a “buy” rating on the stock.
• 3/16/2022 – ON had its price target lowered by analysts at Telsey Advisory Group from $53.00 to $39.00. They now have an “outperform” rating on the stock.

NYSE:ONON traded up $0.46 during mid-day trading on Wednesday, reaching $24.40. The stock had a trading volume of 67,733 shares, compared to its average volume of 2,687,199. On Holding AG has a 1-year low of $19.75 and a 1-year high of $55.87. The stock’s 50 day simple moving average is $24.56 and its two-hundred day simple moving average is $31.01.

ON (NYSE:ONON – Get Rating) last announced its earnings results on Friday, March 18th. The company reported ($0.65) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.04). The company had revenue of $207.32 million during the quarter, compared to analysts’ expectations of $195.28 million. On average, equities research analysts forecast that On Holding AG will post -0.14 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new position in ON during the 3rd quarter worth $36,000. Baystate Wealth Management LLC acquired a new position in shares of ON during the first quarter worth approximately $50,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in ON in the third quarter valued at approximately $52,000. Citigroup Inc. acquired a new position in ON in the third quarter valued at approximately $54,000. Finally, IFP Advisors Inc raised its holdings in ON by 61.9% in the fourth quarter. IFP Advisors Inc now owns 1,850 shares of the company’s stock worth $69,000 after purchasing an additional 707 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

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

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