ON (NYSE:ONON) PT Raised to $38.00

ON (NYSE:ONON) had its price target lifted by TD Cowen from $36.00 to $38.00 in a report released on Thursday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other research analysts also recently weighed in on ONON. Evercore ISI dropped their target price on ON from $40.00 to $37.00 and set an outperform rating on the stock in a research note on Wednesday, March 13th. Truist Financial upped their price objective on shares of ON from $29.00 to $30.00 and gave the company a hold rating in a report on Wednesday, March 13th. Morgan Stanley reiterated an overweight rating and issued a $32.00 target price on shares of ON in a research note on Monday, April 22nd. Stifel Nicolaus restated a buy rating and set a $40.00 price target on shares of ON in a research note on Tuesday, March 5th. Finally, Redburn Atlantic reiterated a neutral rating and set a $34.00 price objective on shares of ON in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $37.33.

ON Stock Performance

ONON stock opened at $33.27 on Thursday. ON has a one year low of $23.41 and a one year high of $37.08. The firm has a market cap of $20.95 billion, a price-to-earnings ratio of 123.22, a PEG ratio of 1.16 and a beta of 2.17. The firm has a 50-day simple moving average of $33.23 and a two-hundred day simple moving average of $29.93.

ON (NYSE:ONON) last posted its earnings results on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The firm had revenue of $504.69 million for the quarter, compared to analysts’ expectations of $515.30 million. ON had a net margin of 4.04% and a return on equity of 6.85%. As a group, equities analysts predict that ON will post 0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ON

Large investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. raised its position in shares of ON by 39.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 12,894 shares of the company’s stock worth $359,000 after purchasing an additional 3,676 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of ON during the third quarter valued at approximately $237,000. Pinnacle Associates Ltd. lifted its position in shares of ON by 90.5% in the third quarter. Pinnacle Associates Ltd. now owns 26,170 shares of the company’s stock valued at $728,000 after acquiring an additional 12,430 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of ON by 84.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 31,350 shares of the company’s stock worth $872,000 after acquiring an additional 14,320 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of ON during the third quarter worth approximately $8,063,000. 33.11% of the stock is currently owned by institutional investors and hedge funds.

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.