ON (NYSE:ONON) Research Coverage Started at Raymond James

Raymond James started coverage on shares of ON (NYSE:ONON) in a report released on Wednesday, Marketbeat reports. The brokerage issued an outperform rating and a $46.00 price objective on the stock.

Other equities research analysts have also issued research reports about the company. Evercore ISI upped their price target on ON from $40.00 to $43.00 and gave the company an outperform rating in a research report on Wednesday, May 15th. The Goldman Sachs Group increased their target price on shares of ON from $41.00 to $47.00 and gave the company a buy rating in a research report on Wednesday, July 3rd. UBS Group boosted their price target on shares of ON from $53.00 to $55.00 and gave the stock a buy rating in a research report on Wednesday, May 15th. Stifel Nicolaus reiterated a buy rating and set a $41.00 price objective on shares of ON in a research report on Thursday, May 16th. Finally, Telsey Advisory Group boosted their target price on shares of ON from $40.00 to $47.00 and gave the company an outperform rating in a report on Friday, June 7th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, ON currently has an average rating of Moderate Buy and a consensus target price of $43.22.

ON Trading Down 3.9 %

NYSE ONON opened at $38.67 on Wednesday. The firm’s 50 day simple moving average is $40.03 and its 200 day simple moving average is $34.96. The firm has a market capitalization of $24.35 billion, a price-to-earnings ratio of 87.89, a P/E/G ratio of 1.18 and a beta of 2.22. ON has a 1 year low of $23.41 and a 1 year high of $44.30.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.12 by $0.20. The business had revenue of $581.41 million during the quarter, compared to the consensus estimate of $555.52 million. ON had a net margin of 6.46% and a return on equity of 11.13%. On average, equities research analysts forecast that ON will post 0.78 earnings per share for the current year.

Hedge Funds Weigh In On ON

Hedge funds have recently modified their holdings of the company. Orion Capital Management LLC increased its position in shares of ON by 1,100.0% during the fourth quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock valued at $32,000 after acquiring an additional 1,100 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new stake in shares of ON during the 4th quarter valued at $32,000. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of ON in the 4th quarter worth about $33,000. Spire Wealth Management grew its position in ON by 66.2% during the fourth quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock valued at $45,000 after buying an additional 643 shares during the period. Finally, Rakuten Securities Inc. purchased a new stake in ON during the fourth quarter worth about $47,000. Institutional investors own 33.11% of the company’s stock.

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.