ON (NYSE:ONON) PT Raised to $47.00 at KeyCorp

ON (NYSE:ONON) had its price objective hoisted by investment analysts at KeyCorp from $40.00 to $47.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective would suggest a potential upside of 23.04% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Evercore ISI boosted their target price 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. Telsey Advisory Group upped their price objective on shares of ON from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Sanford C. Bernstein assumed coverage on ON in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $50.00 target price for the company. TD Cowen upped their price target on ON from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $41.00 price objective on shares of ON in a research note on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.06.

ON Trading Down 0.8 %

Shares of ON stock opened at $38.20 on Wednesday. The company has a market cap of $24.05 billion, a P/E ratio of 86.82, a PEG ratio of 1.13 and a beta of 2.22. The business has a 50-day moving average price of $39.82 and a two-hundred day moving average price of $34.45. ON has a 1-year low of $23.41 and a 1-year high of $44.30.

ON (NYSE:ONON) last released its earnings results on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.12 by $0.20. ON had a return on equity of 11.13% and a net margin of 6.46%. The business had revenue of $581.41 million during the quarter, compared to analysts’ expectations of $555.52 million. Equities research analysts forecast that ON will post 0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On ON

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC bought a new position in shares of ON in the fourth quarter valued at approximately $32,000. Orion Capital Management LLC grew its stake in ON by 1,100.0% in the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock valued at $32,000 after purchasing an additional 1,100 shares during the period. Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of ON during the 4th quarter valued at $33,000. WD Rutherford LLC bought a new stake in shares of ON during the 1st quarter worth $52,000. Finally, Spire Wealth Management boosted its holdings in shares of ON by 66.2% in the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock worth $45,000 after buying an additional 643 shares during the last quarter. Hedge funds and other 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.