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

ON (NYSE:ONON) had its target price hoisted by Barclays from $47.00 to $63.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the stock. Evercore ISI raised shares of ON to an “overweight” rating and raised their price objective for the stock from $43.00 to $47.00 in a report on Monday, August 12th. Telsey Advisory Group restated an “outperform” rating and set a $53.00 price target on shares of ON in a research note on Tuesday. Piper Sandler upped their price objective on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. TD Cowen raised their target price on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Truist Financial boosted their price target on ON from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.33.

ON Trading Down 2.7 %

Shares of ONON stock opened at $51.92 on Wednesday. The firm has a market capitalization of $32.69 billion, a P/E ratio of 120.74 and a beta of 2.25. ON has a 1 year low of $25.78 and a 1 year high of $56.44. The firm’s fifty day simple moving average is $49.56 and its 200 day simple moving average is $43.17.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a net margin of 5.87% and a return on equity of 11.02%. The company had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. Equities research analysts anticipate that ON will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ONON. Private Trust Co. NA acquired a new stake in ON during the 3rd quarter worth approximately $26,000. Blue Trust Inc. raised its holdings in shares of ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after acquiring an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in ON in the 3rd quarter worth $29,000. Finally, Quarry LP acquired a new position in ON in the 2nd quarter worth $32,000. 33.11% of the stock is currently 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.