Barclays Issues Positive Forecast for ON (NYSE:ONON) Stock Price

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

Several other research firms also recently commented on ONON. Hsbc Global Res raised ON to a “hold” rating in a report on Thursday, September 5th. TD Cowen upped their price target on shares of ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. BTIG Research raised shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Wednesday. Stifel Nicolaus upped their target price on shares of ON from $45.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Piper Sandler raised their target price on shares of ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.33.

ON Trading Down 2.7 %

ON stock opened at $51.92 on Wednesday. The company has a fifty day simple moving average of $49.56 and a 200 day simple moving average of $43.17. ON has a 1-year low of $25.78 and a 1-year high of $56.44. The company has a market cap of $32.69 billion, a P/E ratio of 120.74 and a beta of 2.25.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (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 the consensus estimate of $634.43 million. ON had a return on equity of 11.02% and a net margin of 5.87%. On average, equities research analysts forecast that ON will post 0.75 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Gordian Capital Singapore Pte Ltd bought a new stake in shares of ON during the 3rd quarter valued at $351,000. Y Intercept Hong Kong Ltd raised its stake in ON by 584.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock valued at $4,195,000 after purchasing an additional 71,436 shares in the last quarter. MML Investors Services LLC lifted its position in ON by 54.9% during the third quarter. MML Investors Services LLC now owns 43,200 shares of the company’s stock worth $2,166,000 after purchasing an additional 15,313 shares during the period. Orion Portfolio Solutions LLC acquired a new stake in ON during the third quarter worth about $1,499,000. Finally, Zurich Insurance Group Ltd FI bought a new position in ON in the 3rd quarter valued at about $10,263,000. 33.11% of the stock is 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.