ON (NYSE:ONON) PT Raised to $59.00 at Stifel Nicolaus

ON (NYSE:ONON) had its price target boosted by Stifel Nicolaus from $45.00 to $59.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 19.77% from the stock’s current price.

ONON has been the subject of several other research reports. Raymond James initiated coverage on ON in a research report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 price target for the company. Telsey Advisory Group restated an “outperform” rating and issued a $47.00 price target on shares of ON in a research note on Tuesday, August 13th. Morgan Stanley lifted their price objective on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Truist Financial upped their target price on shares of ON from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Evercore ISI upgraded shares of ON to an “overweight” rating and lifted their price target for the stock from $43.00 to $47.00 in a research note on Monday, August 12th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.89.

ON Trading Down 1.2 %

ONON opened at $49.26 on Wednesday. ON has a 12-month low of $23.41 and a 12-month high of $50.12. The company has a market cap of $31.02 billion, a price-to-earnings ratio of 111.96, a price-to-earnings-growth ratio of 1.37 and a beta of 2.24. The stock has a fifty day simple moving average of $42.28 and a two-hundred day simple moving average of $38.27.

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 business had revenue of $627.66 million for the quarter, compared to analysts’ expectations of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. On average, analysts predict that ON will post 0.82 EPS for the current year.

Hedge Funds Weigh In On ON

Hedge funds have recently made changes to their positions in the business. Quarry LP bought a new position in ON in the 2nd quarter worth approximately $32,000. WD Rutherford LLC bought a new position in shares of ON during the 1st quarter valued at about $52,000. Asset Dedication LLC grew its position in shares of ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of ON in the fourth quarter worth about $88,000. Finally, Orion Capital Management LLC lifted its position in shares of ON by 106.7% in the first quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock worth $88,000 after buying an additional 1,280 shares in the last quarter. 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.