ON (NYSE:ONON) PT Raised to $58.00 at TD Cowen

ON (NYSE:ONON) had its target price boosted by research analysts at TD Cowen from $50.00 to $58.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 17.46% from the company’s current price.

Several other analysts have also issued reports on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $47.00 price objective on shares of ON in a report on Tuesday, August 13th. Stifel Nicolaus upped their price target on ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Raymond James assumed coverage on ON in a report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price objective on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $52.00 price objective on shares of ON in a report on Friday, August 23rd. Finally, Truist Financial upped their target price on ON from $46.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.35.

ON Stock Down 1.5 %

Shares of ON stock opened at $49.38 on Monday. The firm’s 50 day moving average price is $44.39 and its 200-day moving average price is $39.39. The company has a market cap of $31.09 billion, a P/E ratio of 112.23, a PEG ratio of 1.25 and a beta of 2.24. ON has a 52-week low of $23.41 and a 52-week high of $52.16.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The firm had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. As a group, equities research analysts forecast that ON will post 0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On ON

Several large investors have recently made changes to their positions in ONON. Quarry LP bought a new stake in shares of ON in the 2nd quarter worth approximately $32,000. WD Rutherford LLC acquired a new stake in ON during the 1st quarter valued at $52,000. Asset Dedication LLC increased its holdings in ON by 25.8% during the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares in the last quarter. Orion Capital Management LLC increased its holdings in ON by 106.7% during the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock valued at $88,000 after purchasing an additional 1,280 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in ON by 24.0% during the 2nd quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

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.