ON (NYSE:ONON) Price Target Raised to $63.00

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

ONON has been the subject of several other reports. The Goldman Sachs Group boosted their target price on shares of ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday. Stifel Nicolaus upped their price objective on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Williams Trading raised ON from a “hold” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $60.00 in a research report on Wednesday. Truist Financial raised their price objective on ON from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $53.00 price target on shares of ON in a report on Tuesday. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, ON currently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

ON Trading Up 1.2 %

ONON opened at $53.35 on Wednesday. ON has a 1 year low of $25.78 and a 1 year high of $56.44. The stock has a fifty day moving average price of $49.24 and a 200 day moving average price of $42.97. The stock has a market cap of $33.59 billion, a price-to-earnings ratio of 124.07 and a beta of 2.25.

ON (NYSE:ONON) last announced its quarterly 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). ON had a net margin of 5.87% and a return on equity of 11.02%. 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 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ON

Hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in ON in the first quarter valued at about $958,000. Oppenheimer & Co. Inc. bought a new stake in shares of ON in the 1st quarter valued at approximately $208,000. Sei Investments Co. raised its holdings in shares of ON by 16.1% in the 1st quarter. Sei Investments Co. now owns 525,478 shares of the company’s stock worth $18,591,000 after buying an additional 72,859 shares in the last quarter. SageView Advisory Group LLC bought a new position in shares of ON during the 1st quarter worth approximately $656,000. Finally, Blair William & Co. IL bought a new stake in ON in the first quarter valued at $502,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

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.