ON (NYSE:ONON) Stock Price Expected to Rise, UBS Group Analyst Says

ON (NYSE:ONON) had its price target raised by analysts at UBS Group from $61.00 to $63.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 18.09% from the company’s current price.

ONON has been the subject of several other research reports. The Goldman Sachs Group lifted their price target on ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial boosted their target price on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus lifted their price target on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Morgan Stanley upped their price objective on shares of ON from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, BTIG Research upgraded shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, ON currently has an average rating of “Moderate Buy” and an average target price of $54.33.

ON Trading Up 1.2 %

ONON stock opened at $53.35 on Wednesday. ON has a 52 week low of $25.78 and a 52 week high of $56.44. The company has a market cap of $33.59 billion, a P/E ratio of 124.07 and a beta of 2.25. The company’s 50-day moving average price is $49.24 and its 200 day moving average price is $42.97.

ON (NYSE:ONON) last released 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). The firm had revenue of $627.66 million during the quarter, compared to analysts’ expectations of $634.43 million. ON had a net margin of 5.87% and a return on equity of 11.02%. On average, equities research analysts expect that ON will post 0.75 earnings per share for the current year.

Institutional Trading of ON

A number of large investors have recently added to or reduced their stakes in ONON. Ameritas Advisory Services LLC raised its position in shares of ON by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock worth $924,000 after purchasing an additional 300 shares during the period. Capital Advisors Inc. OK raised its holdings in ON by 5.1% during the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock worth $310,000 after buying an additional 301 shares during the period. Artemis Investment Management LLP lifted its stake in ON by 1.9% during the second quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock valued at $637,000 after buying an additional 302 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of ON by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after buying an additional 325 shares during the period. Finally, Asset Dedication LLC increased its position in shares of ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after acquiring an additional 327 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.