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

ON (NYSE:ONON) had its price target raised by Robert W. Baird from $55.00 to $63.00 in a research report sent to investors on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. Piper Sandler raised their target price on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $53.00 price target on shares of ON in a research report on Tuesday. TD Cowen lifted their price target on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Morgan Stanley lifted their price target on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Finally, UBS Group lifted their target price on ON from $55.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

ON Trading Down 2.7 %

ON stock traded down $1.43 during midday trading on Wednesday, reaching $51.92. 2,616,893 shares of the stock traded hands, compared to its average volume of 4,974,211. The firm has a market cap of $32.69 billion, a PE ratio of 120.74 and a beta of 2.25. The company has a 50-day simple moving average of $49.56 and a two-hundred day simple moving average of $43.17. ON has a 12-month low of $25.78 and a 12-month high of $56.44.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) 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 net margin of 5.87% and a return on equity of 11.02%. Equities research analysts anticipate that ON will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ONON. 1832 Asset Management L.P. grew its position in shares of ON by 66,838.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after acquiring an additional 2,406,200 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of ON in the 1st quarter worth approximately $65,898,000. Acadian Asset Management LLC lifted its holdings in shares of ON by 574.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock worth $59,878,000 after purchasing an additional 1,315,006 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of ON in the 2nd quarter worth approximately $43,456,000. Finally, Renaissance Technologies LLC bought a new stake in shares of ON in the 2nd quarter worth approximately $27,975,000. 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.