The Goldman Sachs Group Issues Positive Forecast for ON (NYSE:ONON) Stock Price

ON (NYSE:ONON) had its price objective hoisted by research analysts at The Goldman Sachs Group from $50.00 to $57.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 8.30% from the company’s current price.

Several other brokerages also recently commented on ONON. UBS Group raised their target price on shares of ON from $55.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, November 4th. HSBC began coverage on shares of ON in a report on Thursday, September 5th. They set a “hold” rating and a $52.00 target price on the stock. TD Cowen raised their target price on shares of ON from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Morgan Stanley lifted their price objective on shares of ON from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $21.00 to $55.00 in a report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, ON presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.10.

ON Price Performance

Shares of NYSE:ONON opened at $52.63 on Wednesday. The company has a market capitalization of $33.14 billion, a price-to-earnings ratio of 99.30 and a beta of 2.25. The firm’s 50 day simple moving average is $49.10 and its 200 day simple moving average is $42.90. ON has a fifty-two week low of $24.15 and a fifty-two week high of $54.00.

ON (NYSE:ONON) last announced its earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The company had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. Equities research analysts expect that ON will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in ON in the first quarter valued at approximately $958,000. Oppenheimer & Co. Inc. bought a new position in ON during the 1st quarter valued at $208,000. Sei Investments Co. lifted its stake in ON by 16.1% during the 1st quarter. Sei Investments Co. now owns 525,478 shares of the company’s stock valued at $18,591,000 after acquiring an additional 72,859 shares in the last quarter. SageView Advisory Group LLC bought a new position in ON during the 1st quarter valued at $656,000. Finally, Blair William & Co. IL bought a new stake in shares of ON during the 1st quarter worth $502,000. Institutional investors and hedge funds 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.