ON (NYSE:ONON) Price Target Raised to $60.00

ON (NYSE:ONON) had its price target hoisted by TD Cowen from $58.00 to $60.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also commented on ONON. Hsbc Global Res raised shares of ON to a “hold” rating in a research report on Thursday, September 5th. Bank of America upgraded ON from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $21.00 to $55.00 in a report on Monday, September 23rd. Raymond James began coverage on ON in a report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 target price for the company. Barclays raised their price target on ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Piper Sandler upped their price objective on shares of ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

ON Stock Down 2.7 %

ONON stock opened at $51.92 on Wednesday. The firm has a market cap of $32.69 billion, a price-to-earnings ratio of 120.74 and a beta of 2.25. ON has a twelve month low of $25.78 and a twelve month high of $56.44. The business’s fifty day simple moving average is $49.56 and its two-hundred day simple moving average is $43.17.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The company had revenue of $627.66 million during the quarter, compared to analysts’ expectations of $634.43 million. ON had a return on equity of 11.02% and a net margin of 5.87%. Research analysts expect that ON will post 0.75 EPS for the current year.

Hedge Funds Weigh In On ON

Hedge funds have recently modified their holdings of the stock. Ameritas Advisory Services LLC grew its position in ON by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock worth $924,000 after purchasing an additional 300 shares during the last quarter. Capital Advisors Inc. OK grew its holdings in shares of ON by 5.1% during the third quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock valued at $310,000 after buying an additional 301 shares during the last quarter. Artemis Investment Management LLP increased its position in shares of ON by 1.9% in the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock valued at $637,000 after acquiring an additional 302 shares during the period. Crossmark Global Holdings Inc. raised its stake in ON by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after acquiring an additional 325 shares during the last quarter. Finally, Asset Dedication LLC lifted its position in 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. Institutional investors and hedge funds 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.