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

ON (NYSE:ONON) had its target price increased by Robert W. Baird from $55.00 to $63.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently weighed in on ONON. Truist Financial lifted their price target on ON from $51.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. KeyCorp lifted their price objective on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. HSBC began coverage on ON in a research report on Thursday, September 5th. They set a “hold” rating and a $52.00 price objective for the company. Piper Sandler lifted their price objective on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Finally, UBS Group lifted their price objective on ON from $55.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

ON Stock Down 2.7 %

ON stock traded down $1.43 during mid-day trading on Wednesday, hitting $51.92. 2,616,893 shares of the company’s stock traded hands, compared to its average volume of 4,974,211. ON has a one year low of $25.78 and a one year high of $56.44. The firm has a 50 day moving average price of $49.56 and a 200 day moving average price of $43.17. The company has a market cap of $32.69 billion, a PE ratio of 120.74 and a beta of 2.25.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share 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 business had revenue of $627.66 million for the quarter, compared to analysts’ expectations of $634.43 million. On average, analysts expect that ON will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ON

Several large investors have recently modified their holdings of ONON. Private Trust Co. NA bought a new stake in shares of ON in the 3rd quarter valued at approximately $26,000. Blue Trust Inc. grew its position in ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after acquiring an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in ON during the 3rd quarter worth approximately $29,000. Finally, Quarry LP acquired a new position in ON during the 2nd 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.