ON (NYSE:ONON) Price Target Raised to $60.00 at TD Cowen

ON (NYSE:ONON) had its target price hoisted by TD Cowen from $58.00 to $60.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently commented on the company. BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Wednesday. Stifel Nicolaus increased their price target on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Morgan Stanley boosted their target price on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Barclays increased their price objective on shares of ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Raymond James initiated coverage on ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, ON currently has a consensus rating of “Moderate Buy” and an average price target of $54.33.

ON Stock Up 1.6 %

Shares of ON stock opened at $53.55 on Wednesday. The firm has a market cap of $33.72 billion, a PE ratio of 122.58 and a beta of 2.25. ON has a twelve month low of $25.78 and a twelve month high of $56.44. The business has a 50-day moving average price of $49.24 and a 200 day moving average price of $42.97.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 11.02% and a net margin of 5.87%. The company had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. On average, sell-side analysts expect that ON will post 0.75 EPS for the current year.

Hedge Funds Weigh In On ON

Several large investors have recently added to or reduced their stakes in ONON. Private Trust Co. NA acquired a new position in shares of ON in the 3rd quarter valued at $26,000. Blue Trust Inc. lifted its holdings 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 acquiring an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of 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 purchasing an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of ON in the third quarter worth about $29,000. Finally, Quarry LP purchased a new stake in shares of ON during the 2nd quarter valued at about $32,000. 33.11% of the stock is currently owned by hedge funds and other 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.