ON (NYSE:ONON) Price Target Raised to $63.00 at UBS Group

ON (NYSE:ONON) had its price target raised by UBS Group from $61.00 to $63.00 in a research note published on Wednesday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other brokerages also recently weighed in on ONON. BTIG Research raised ON from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday. Truist Financial upped their target price on ON from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday. Piper Sandler raised their price target on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. KeyCorp lifted their price objective on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $53.00 target price on shares of ON in a research report on Tuesday. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, ON has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

ON Stock Up 1.6 %

ONON opened at $53.55 on Wednesday. The firm has a market cap of $33.72 billion, a price-to-earnings ratio of 122.58 and a beta of 2.25. The business’s 50 day moving average is $49.24 and its two-hundred day moving average is $42.97. ON has a 52 week low of $25.78 and a 52 week high of $56.44.

ON (NYSE:ONON) last issued its quarterly earnings data 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 11.02% and a net margin of 5.87%. The business had revenue of $627.66 million for the quarter, compared to analysts’ expectations of $634.43 million. Equities analysts expect that ON will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On ON

Large investors have recently added to or reduced their stakes in the company. Private Trust Co. NA bought a new position in ON in the third quarter worth about $26,000. Blue Trust Inc. raised its position in shares of ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after purchasing an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in ON during the 3rd quarter valued at approximately $29,000. Finally, Quarry LP acquired a new stake in ON in the second quarter worth $32,000. 33.11% of the stock is currently owned by institutional investors.

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.