ON (NYSE:ONON) Price Target Raised to $57.00

ON (NYSE:ONON) had its price objective increased by The Goldman Sachs Group from $50.00 to $57.00 in a research note published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on ONON. 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 research note on Wednesday, September 18th. TD Cowen boosted their target price on shares of ON from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, September 30th. HSBC began coverage on shares of ON in a research note on Thursday, September 5th. They issued a “hold” rating and a $52.00 target price on the stock. 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 research note on Wednesday. Finally, Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $21.00 to $55.00 in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.33.

ON Stock Down 2.7 %

ONON traded down $1.43 during trading on Wednesday, reaching $51.92. 2,616,893 shares of the company’s stock were exchanged, compared to its average volume of 4,974,211. ON has a fifty-two week low of $25.78 and a fifty-two week high of $56.44. The business has a 50 day moving average price of $49.56 and a 200 day moving average price of $43.17. The company has a market capitalization of $32.69 billion, a P/E ratio of 120.74 and a beta of 2.25.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a return on equity of 11.02% and a net margin of 5.87%. The business had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. As a group, research analysts forecast that ON will post 0.75 EPS for the current year.

Institutional Trading of ON

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Private Trust Co. NA acquired a new position in shares of ON in the 3rd quarter valued at approximately $26,000. Blue Trust Inc. grew its position in shares of ON by 319.8% in 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 during the period. MidAtlantic Capital Management Inc. acquired a new position in shares of ON in the 3rd quarter valued at approximately $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the period. Finally, Quarry LP acquired a new position in shares of ON in the 2nd quarter valued at approximately $32,000. 33.11% of the stock is 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.