ON (NYSE:ONON) Price Target Raised to $63.00

ON (NYSE:ONON) had its price target raised by research analysts at Robert W. Baird from $55.00 to $63.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 19.70% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Piper Sandler upped their price target on shares of ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. HSBC assumed coverage on shares of ON in a research note on Thursday, September 5th. They issued a “hold” rating and a $52.00 target price on the stock. UBS Group boosted their price objective on shares of ON from $55.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Stifel Nicolaus upped their price objective on ON from $45.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $53.00 target price on shares of ON in a report on Tuesday. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.10.

ON Stock Performance

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

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share 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 company had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. On average, analysts forecast that ON will post 0.75 earnings per share for the current fiscal year.

Institutional Trading of ON

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after acquiring an additional 403 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of ON during the 3rd quarter valued at $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in ON by 210.5% in the 3rd 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 bought a new stake in ON during the second quarter valued at about $32,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of ON in the third quarter worth about $50,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

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.