Nike's Sales Warning Leads Morgan Stanley, JPMorgan and More to Pause Buy Calls on Stock [BNN Bloomberg (Canada)]
On Holding AG (ONON)
Company Research
Source: BNN Bloomberg
The sneaker maker has been losing ground to competition from rivals like Adidas AG and its disappointing outlook led at least seven brokers, including JPMorgan Chase & Co, Morgan Stanley and UBS Group AG, to drop their once bullish positions and move to the sidelines. Nike's consensus rating — a proxy for the ratio of buy, hold and sell recommendations — fell to 3.8 out of five on Friday, the lowest level since 2017. Fundamental trends at Nike are “much worse than we realized,” UBS analyst Jay Sole wrote in a note Friday as he downgraded his recommendation on the stock to neutral from buy. “Its lifestyle business needs a major reset.” Nike was once a favorite among Wall Street analysts, but in recent months the world's largest sportswear company has lost fans as competitors like On Holding AG, Deckers Outdoor Corp.'s Hoka and Adidas have taken market share by appealing to consumers with innovative new styles. Last week, Williams Trading's Sam Poser put out an early warning, telli
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ONON
News
- Nike stocks see their biggest drop since 2001 amid weak fiscal outlook [Los Angeles Times (CA)]Los Angeles Times
- Nike posts quarterly sales that miss Wall Street estimates [BNN Bloomberg (Canada)]BNN Bloomberg
- On Holding (ONON) Stock Dips While Market Gains: Key Facts [Yahoo! Finance]Yahoo! Finance
- 4 Reasons to Buy Nike Stock Like There's No Tomorrow [Yahoo! Finance]Yahoo! Finance
- On Holding AG (NYSE: ONON) had its "overweight" rating re-affirmed by analysts at Morgan Stanley. They now have a $40.00 price target on the stock.MarketBeat
ONON
Earnings
- 5/14/24 - Beat
ONON
Sec Filings
- 6/7/24 - Form 144
- 6/7/24 - Form 144/A
- 6/6/24 - Form 144/A
- ONON's page on the SEC website