ON (NYSE:ONON) Price Target Raised to $58.00

ON (NYSE:ONON) had its price objective boosted by Truist Financial from $51.00 to $58.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Bank of America upgraded shares of ON from an underperform rating to a neutral rating and raised their target price for the company from $21.00 to $55.00 in a research note on Monday, September 23rd. HSBC started coverage on ON in a research note on Thursday, September 5th. They set a hold rating and a $52.00 target price for the company. JPMorgan Chase & Co. increased their price target on ON from $40.00 to $47.00 and gave the company an overweight rating in a research note on Monday, June 17th. TD Cowen lifted their price objective on shares of ON from $50.00 to $58.00 and gave the stock a buy rating in a research report on Monday, September 30th. Finally, Raymond James started coverage on shares of ON in a report on Wednesday, July 31st. They issued an outperform rating and a $46.00 price objective on the stock. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $48.90.

ON Stock Up 4.1 %

ONON stock opened at $51.71 on Thursday. The company has a market cap of $32.56 billion, a price-to-earnings ratio of 117.52, a P/E/G ratio of 1.26 and a beta of 2.24. ON has a twelve month low of $23.41 and a twelve month high of $52.16. The business has a 50 day moving average price of $45.24 and a two-hundred day moving average price of $39.81.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The firm had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. On average, equities research analysts anticipate that ON will post 0.82 EPS for the current fiscal year.

Institutional Trading of ON

A number of institutional investors have recently modified their holdings of ONON. Quarry LP acquired a new position in ON in the second quarter valued at about $32,000. WD Rutherford LLC acquired a new position in shares of ON in the 1st quarter valued at approximately $52,000. Asset Dedication LLC lifted its holdings in shares of ON by 25.8% during the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after acquiring an additional 327 shares during the period. Orion Capital Management LLC boosted its position in shares of ON by 106.7% during the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock worth $88,000 after acquiring an additional 1,280 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in ON by 24.0% in the second quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after acquiring an additional 500 shares during the last quarter. 33.11% of the stock is currently owned by institutional investors.

About ON

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.