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

ON (NYSE:ONON) had its target price hoisted by UBS Group from $55.00 to $61.00 in a report issued on Monday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

ONON has been the subject of a number of other research reports. HSBC initiated coverage on shares of ON in a report on Thursday, September 5th. They set a “hold” rating and a $52.00 price target for the company. Telsey Advisory Group restated an “outperform” rating and issued a $47.00 target price on shares of ON in a research report on Tuesday, August 13th. KeyCorp upped their price target on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Barclays raised their price objective on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Finally, Morgan Stanley upped their target price on shares of ON from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, ON presently has an average rating of “Moderate Buy” and an average price target of $50.37.

ON Stock Performance

NYSE ONON opened at $50.38 on Monday. ON has a fifty-two week low of $24.15 and a fifty-two week high of $52.80. The firm has a market capitalization of $31.72 billion, a P/E ratio of 95.06 and a beta of 2.25. The stock’s fifty day moving average is $48.76 and its two-hundred day moving average is $42.33.

ON (NYSE:ONON) last announced 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 net margin of 7.42% and a return on equity of 13.02%. The firm had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. As a group, sell-side analysts forecast that ON will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. purchased a new position in shares of ON in the 3rd quarter valued at about $29,000. RiverPark Advisors LLC acquired a new stake in ON in the third quarter valued at approximately $175,000. Accredited Investors Inc. purchased a new position in ON in the third quarter worth approximately $256,000. River Street Advisors LLC acquired a new position in ON during the 3rd quarter worth approximately $183,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in shares of ON in the 3rd quarter valued at approximately $254,000. 33.11% of the stock is owned by institutional investors and hedge funds.

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.