ON (NYSE:ONON) PT Raised to $58.00

ON (NYSE:ONON) had its price target hoisted by Truist Financial from $51.00 to $58.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on ONON. JPMorgan Chase & Co. lifted their target price on ON from $40.00 to $47.00 and gave the stock an overweight rating in a report on Monday, June 17th. Morgan Stanley lifted their price objective on shares of ON from $44.00 to $46.00 and gave the stock an overweight rating in a research report on Wednesday, August 14th. The Goldman Sachs Group increased their target price on ON from $41.00 to $47.00 and gave the company a buy rating in a report on Wednesday, July 3rd. TD Cowen lifted their price target on ON from $50.00 to $58.00 and gave the company a buy rating in a report on Monday, September 30th. Finally, Stifel Nicolaus raised their price objective on ON from $45.00 to $59.00 and gave the stock a buy rating in a research report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $48.90.

ON Trading Up 4.1 %

NYSE ONON opened at $51.71 on Thursday. ON has a 52 week low of $23.41 and a 52 week high of $52.16. The company has a 50-day moving average price of $45.24 and a two-hundred day moving average price of $39.84. The stock has a market cap of $32.56 billion, a price-to-earnings ratio of 117.53, a price-to-earnings-growth ratio of 1.22 and a beta of 2.24.

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 the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The company had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. As a group, equities research analysts expect that ON will post 0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ON

A number of hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its position in ON by 805.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,570 shares of the company’s stock worth $663,000 after buying an additional 21,855 shares during the period. CIBC Private Wealth Group LLC bought a new stake in shares of ON in the 4th quarter worth approximately $1,994,000. Blueshift Asset Management LLC acquired a new stake in shares of ON during the 4th quarter worth approximately $208,000. Gabelli Funds LLC increased its position in shares of ON by 30.3% during the fourth quarter. Gabelli Funds LLC now owns 45,200 shares of the company’s stock valued at $1,219,000 after purchasing an additional 10,500 shares during the period. Finally, Stephens Inc. AR raised its stake in shares of ON by 7.3% in the fourth quarter. Stephens Inc. AR now owns 32,150 shares of the company’s stock valued at $867,000 after purchasing an additional 2,200 shares in the last quarter. 33.11% of the stock is currently 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.