ON (NYSE:ONON) Price Target Raised to $61.00

ON (NYSE:ONON) had its target price increased by UBS Group from $55.00 to $61.00 in a report released on Monday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on ONON. Piper Sandler lifted their target price on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Raymond James started coverage on ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 target price on the stock. HSBC started coverage on ON in a research report on Thursday, September 5th. They set a “hold” rating and a $52.00 target price on the stock. Barclays lifted their price target on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, Bank of America upgraded ON from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $21.00 to $55.00 in a report on Monday, September 23rd. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.37.

ON Stock Performance

Shares of ON stock opened at $47.59 on Monday. ON has a 52 week low of $24.15 and a 52 week high of $52.80. The stock has a 50 day moving average price of $48.69 and a two-hundred day moving average price of $42.28. The stock has a market capitalization of $29.97 billion, a PE ratio of 89.79 and a beta of 2.25.

ON (NYSE:ONON) last announced its quarterly earnings data 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 7.42% and a return on equity of 13.02%. The firm had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. Research analysts forecast that ON will post 0.76 EPS for the current year.

Institutional Trading of ON

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in shares of ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after buying an additional 400 shares in the last quarter. Quarry LP purchased a new position in ON during the second quarter worth about $32,000. MFA Wealth Advisors LLC purchased a new position in ON during the third quarter worth about $50,000. Finally, nVerses Capital LLC purchased a new position in ON during the third quarter worth about $65,000. 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.