Stifel Nicolaus Boosts ON (NYSE:ONON) Price Target to $59.00

ON (NYSE:ONON) had its target price hoisted by Stifel Nicolaus from $45.00 to $59.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

ONON has been the subject of a number of other reports. HSBC assumed coverage on ON in a report on Thursday, September 5th. They issued a hold rating and a $52.00 price target for the company. Morgan Stanley boosted their price target on ON from $44.00 to $46.00 and gave the company an overweight rating in a report on Wednesday, August 14th. Piper Sandler reissued an overweight rating and issued a $52.00 price target on shares of ON in a report on Friday, August 23rd. Barclays boosted their price target on ON from $40.00 to $47.00 and gave the company an overweight rating in a report on Wednesday, August 14th. Finally, Raymond James initiated coverage on ON in a research report on Wednesday, July 31st. They issued an outperform rating and a $46.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, ON currently has an average rating of Moderate Buy and an average price target of $46.89.

ON Stock Up 0.4 %

ON stock opened at $49.95 on Wednesday. ON has a 52 week low of $23.41 and a 52 week high of $52.16. The company has a market capitalization of $31.45 billion, a price-to-earnings ratio of 113.53, a price-to-earnings-growth ratio of 1.39 and a beta of 2.24. The stock has a 50-day moving average price of $43.07 and a 200 day moving average price of $38.54.

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

Institutional Trading of ON

Several large investors have recently made changes to their positions in ONON. William Blair Investment Management LLC purchased a new stake in shares of ON during the first quarter worth approximately $121,712,000. 1832 Asset Management L.P. grew its holdings in ON by 66,838.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock valued at $93,500,000 after buying an additional 2,406,200 shares in the last quarter. Norges Bank purchased a new stake in ON in the 4th quarter valued at $57,916,000. Westfield Capital Management Co. LP purchased a new stake in ON in the 1st quarter valued at $65,898,000. Finally, Acadian Asset Management LLC grew its holdings in ON by 574.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock valued at $59,878,000 after buying an additional 1,315,006 shares in the last quarter. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

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.