ON (NYSE:ONON) Coverage Initiated at Raymond James

Analysts at Raymond James started coverage on shares of ON (NYSE:ONON) in a report released on Wednesday, Marketbeat reports. The brokerage set an “outperform” rating and a $46.00 price target on the stock. Raymond James’ price target would suggest a potential upside of 14.29% from the stock’s current price.

Several other analysts have also issued reports on the stock. Evercore ISI boosted their price target on shares of ON from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Stifel Nicolaus restated a “buy” rating and set a $41.00 price objective on shares of ON in a research report on Thursday, May 16th. UBS Group increased their price target on shares of ON from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Morgan Stanley upped their target price on ON from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC boosted their price objective on shares of ON from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.22.

ON Stock Down 2.8 %

ONON opened at $40.25 on Wednesday. The company’s 50-day moving average price is $40.06 and its two-hundred day moving average price is $34.89. ON has a twelve month low of $23.41 and a twelve month high of $44.30. The stock has a market cap of $25.34 billion, a price-to-earnings ratio of 91.48, a PEG ratio of 1.22 and a beta of 2.22.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.20. The business had revenue of $581.41 million during the quarter, compared to analyst estimates of $555.52 million. ON had a return on equity of 11.13% and a net margin of 6.46%. As a group, sell-side analysts anticipate that ON will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On ON

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONON. Orion Capital Management LLC raised its position in shares of ON by 1,100.0% during the fourth quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock valued at $32,000 after buying an additional 1,100 shares during the last quarter. VisionPoint Advisory Group LLC bought a new stake in ON in the 4th quarter valued at $32,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in ON in the 4th quarter worth $33,000. Spire Wealth Management boosted its holdings in shares of ON by 66.2% during the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock valued at $45,000 after purchasing an additional 643 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new position in shares of ON during the 4th quarter valued at about $47,000. Institutional investors own 33.11% of the company’s stock.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.