ON (NYSE:ONON) Price Target Raised to $42.00

ON (NYSE:ONON) had its price target increased by Raymond James Financial from $38.00 to $42.00 in a research report sent to investors on Friday morning,Benzinga reports. Raymond James Financial currently has an outperform rating on the stock.

ONON has been the topic of several other reports. Evercore set a $40.00 target price on ON in a research report on Wednesday, August 12th. Robert W. Baird cut their price target on ON from $70.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th. Berenberg Bank set a $38.00 price target on ON in a report on Monday, September 14th. BMO Capital Markets boosted their price target on ON from $28.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, September 24th. Finally, Truist Financial lowered their price target on ON from $48.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ON currently has an average rating of “Moderate Buy” and a consensus price target of $43.33.

ON Trading Down 0.0%

ON stock opened at $34.75 on Friday. The company’s fifty day simple moving average is $30.34 and its 200-day simple moving average is $34.51. The company has a quick ratio of 2.25, a current ratio of 2.83 and a debt-to-equity ratio of 0.25. ON has a 12 month low of $26.36 and a 12 month high of $51.08. The stock has a market cap of $22.17 billion, a P/E ratio of 23.64, a P/E/G ratio of 0.69 and a beta of 2.08.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same period last year, the company posted ($0.09) earnings per share. As a group, sell-side analysts forecast that ON will post 1.50 EPS for the current fiscal year.

Insider Buying and Selling at ON

In other ON news, CEO Caspar Coppetti bought 65,000 shares of the stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the transaction, the chief executive officer directly owned 2,440,855 shares of the company’s stock, valued at $74,861,022.85. This represents a 2.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Olivier Bernhard bought 65,000 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the transaction, the insider directly owned 5,228,184 shares of the company’s stock, valued at approximately $160,348,403.28. The trade was a 1.26% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Trading of ON

Large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. bought a new position in shares of ON in the third quarter valued at approximately $899,000. B.A. Schrock Wealth Management Inc. acquired a new stake in shares of ON in the third quarter worth $3,991,000. B. Riley Wealth Advisors Inc. lifted its stake in shares of ON by 9.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the company’s stock worth $217,000 after buying an additional 653 shares during the last quarter. Gradient Investments LLC lifted its stake in shares of ON by 14.2% in the third quarter. Gradient Investments LLC now owns 74,013 shares of the company’s stock worth $2,192,000 after buying an additional 9,214 shares during the last quarter. Finally, City Center Advisors LLC boosted its holdings in shares of ON by 5.2% during the 3rd quarter. City Center Advisors LLC now owns 8,675 shares of the company’s stock worth $257,000 after buying an additional 429 shares during the period. Institutional investors own 36.39% of the company’s stock.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company serves athletes and everyday consumers with products designed for running, training, outdoor activities and lifestyle use.

On is best known for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and the Speedboard propulsion system. Its product portfolio also includes athletic clothing, outerwear and accessories.