Robert W. Baird Issues Positive Forecast for ON (NYSE:ONON) Stock Price

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

ONON has been the topic of several other research reports. Barclays boosted their price target on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Telsey Advisory Group reiterated an “outperform” rating and issued a $53.00 price target on shares of ON in a research report on Tuesday. Morgan Stanley upped their price objective on ON from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. TD Cowen lifted their target price on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Stifel Nicolaus increased their price target on ON from $45.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.10.

ON Stock Down 0.2 %

ONON opened at $52.63 on Wednesday. ON has a 52 week low of $24.15 and a 52 week high of $54.00. The firm has a 50-day simple moving average of $49.10 and a two-hundred day simple moving average of $42.90. The company has a market capitalization of $33.14 billion, a PE ratio of 99.30 and a beta of 2.25.

ON (NYSE:ONON) last released 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). The firm 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%. As a group, sell-side analysts expect that ON will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. raised its position in ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of ON in the third quarter valued at about $29,000. Quarry LP purchased a new stake in ON in the second quarter worth about $32,000. Finally, MFA Wealth Advisors LLC bought a new position in ON during the 3rd quarter worth about $50,000. 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.