ON (NYSE:ONON) Given New $57.00 Price Target at The Goldman Sachs Group

ON (NYSE:ONON) had its price objective boosted by equities research analysts at The Goldman Sachs Group from $50.00 to $57.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 6.84% from the company’s current price.

A number of other equities research analysts also recently weighed in on ONON. TD Cowen raised their price target on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Barclays lifted their target price on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Robert W. Baird increased their price target on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $53.00 price objective on shares of ON in a research note on Tuesday. Finally, Stifel Nicolaus increased their target price on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

ON Stock Performance

Shares of ONON opened at $53.35 on Wednesday. ON has a 52 week low of $25.78 and a 52 week high of $56.44. The company has a market capitalization of $33.59 billion, a PE ratio of 124.07 and a beta of 2.25. The company’s 50 day moving average price is $49.24 and its 200 day moving average price is $42.97.

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). The company had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. ON had a return on equity of 11.02% and a net margin of 5.87%. On average, equities analysts forecast that ON will post 0.75 earnings per share for the current fiscal year.

Institutional Trading of ON

A number of hedge funds have recently modified their holdings of ONON. 1832 Asset Management L.P. boosted its stake in ON by 66,838.9% during the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after buying an additional 2,406,200 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of ON during the 1st quarter worth about $65,898,000. Acadian Asset Management LLC boosted its position in shares of ON by 574.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock valued at $59,878,000 after acquiring an additional 1,315,006 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in ON in the second quarter valued at about $43,456,000. Finally, Renaissance Technologies LLC acquired a new position in ON in the second quarter worth about $27,975,000. Institutional investors 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.