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

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

Several other analysts have also recently weighed in on ONON. Telsey Advisory Group restated an outperform rating and set a $47.00 price target on shares of ON in a report on Tuesday, August 13th. Stifel Nicolaus boosted their target price on shares of ON from $45.00 to $59.00 and gave the stock a buy rating in a report on Wednesday, September 18th. Raymond James assumed coverage on shares of ON in a research note on Wednesday, July 31st. They set an outperform rating and a $46.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of ON from $40.00 to $47.00 and gave the stock an overweight rating in a research note on Monday, June 17th. Finally, Sanford C. Bernstein assumed coverage on ON in a research report on Tuesday, June 11th. They set an outperform rating and a $50.00 target price for the company. Five 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, the company has an average rating of Moderate Buy and an average price target of $48.90.

ON Trading Up 4.1 %

ONON opened at $51.71 on Thursday. The company has a market cap of $32.56 billion, a P/E ratio of 117.52, a PEG ratio of 1.26 and a beta of 2.24. The company’s 50 day moving average is $45.24 and its 200-day moving average is $39.81. ON has a 1-year low of $23.41 and a 1-year high of $52.16.

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 the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The company had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. On average, equities analysts forecast that ON will post 0.82 EPS for the current year.

Institutional Investors Weigh In On ON

Several hedge funds and other institutional investors have recently bought and sold shares of ONON. Rheos Capital Works Inc. bought a new stake in ON in the 1st quarter valued at about $10,614,000. Blair William & Co. IL acquired a new position in shares of ON during the first quarter worth approximately $502,000. Janney Montgomery Scott LLC lifted its holdings in shares of ON by 1,011.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock worth $3,686,000 after purchasing an additional 94,814 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in ON in the 1st quarter valued at $8,094,000. Finally, Wellington Management Group LLP bought a new stake in ON during the 4th quarter valued at $34,420,000. 33.11% of the stock is owned by 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.