ON (NYSE:ONON) Rating Increased to Buy at BTIG Research

BTIG Research upgraded shares of ON (NYSE:ONONFree Report) from a neutral rating to a buy rating in a report issued on Wednesday morning, MarketBeat reports. The firm currently has $64.00 target price on the stock.

A number of other research analysts have also commented on the company. Hsbc Global Res upgraded ON to a “hold” rating in a research report on Thursday, September 5th. Raymond James began coverage on ON in a report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 price objective for the company. Robert W. Baird boosted their target price on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday. Evercore ISI raised shares of ON to an “overweight” rating and lifted their price objective for the stock from $43.00 to $47.00 in a research note on Monday, August 12th. Finally, KeyCorp lifted their price target on shares of ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ON has an average rating of “Moderate Buy” and an average target price of $54.33.

Check Out Our Latest Analysis on ONON

ON Stock Performance

Shares of NYSE:ONON opened at $53.55 on Wednesday. The company’s fifty day moving average is $49.24 and its 200-day moving average is $42.97. ON has a 52 week low of $25.78 and a 52 week high of $56.44. The company has a market capitalization of $33.72 billion, a PE ratio of 122.58 and a beta of 2.25.

ON (NYSE:ONONGet Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a net margin of 5.87% and a return on equity of 11.02%. The firm had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. On average, analysts forecast that ON will post 0.75 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ONON. Hantz Financial Services Inc. bought a new stake in shares of ON during the 3rd quarter worth approximately $1,128,000. CreativeOne Wealth LLC bought a new stake in shares of ON in the 3rd quarter valued at about $665,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of ON during the 3rd quarter worth approximately $8,425,000. Townsquare Capital LLC bought a new stake in ON in the 3rd quarter valued at $609,000. Finally, Quantbot Technologies LP raised its position in shares of ON by 130.7% in the third quarter. Quantbot Technologies LP now owns 156,094 shares of the company’s stock valued at $7,828,000 after buying an additional 88,443 shares in the last quarter. 33.11% of the stock is owned by institutional investors and hedge funds.

About ON

(Get Free Report)

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.

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Analyst Recommendations for ON (NYSE:ONON)

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