ON (NYSE:ONON) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of ON (NYSE:ONONGet Rating) from a sell rating to a hold rating in a research note issued to investors on Saturday, Zacks.com reports.

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. “

Several other research firms have also issued reports on ONON. Morgan Stanley dropped their price target on ON from $41.00 to $38.00 and set an overweight rating on the stock in a research report on Monday, March 21st. Telsey Advisory Group dropped their price target on ON from $53.00 to $39.00 and set an outperform rating on the stock in a research report on Wednesday, March 16th. UBS Group dropped their price target on ON from $55.00 to $50.00 and set a buy rating on the stock in a research report on Monday, March 21st. Wedbush reissued a neutral rating on shares of ON in a research report on Thursday, April 28th. Finally, Robert W. Baird dropped their price target on ON from $46.00 to $35.00 and set an outperform rating on the stock in a research report on Wednesday, May 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, ON presently has an average rating of Hold and a consensus price target of $34.33.

Shares of ONON opened at $18.32 on Friday. The business’s 50 day moving average is $24.02 and its two-hundred day moving average is $29.37. ON has a 52-week low of $16.38 and a 52-week high of $55.87.

ON (NYSE:ONONGet Rating) last announced its earnings results on Tuesday, May 17th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.18. The business had revenue of $235.70 million during the quarter, compared to analyst estimates of $170.83 million. The firm’s revenue for the quarter was up 67.9% on a year-over-year basis. Sell-side analysts expect that ON will post 0.01 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new position in ON during the third quarter valued at about $36,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in ON during the third quarter valued at about $52,000. Citigroup Inc. purchased a new stake in shares of ON during the third quarter valued at $54,000. IFP Advisors Inc lifted its holdings 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 purchasing an additional 707 shares during the last quarter. Finally, Monetary Management Group Inc. purchased a new stake in shares of ON during the fourth quarter valued at $76,000. 18.45% of the stock is owned by institutional investors and hedge funds.

ON Company Profile (Get Rating)

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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Analyst Recommendations for ON (NYSE:ONON)

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