ON (NYSE:ONON) Price Target Raised to $43.00

ON (NYSE:ONON) had its price target raised by Morgan Stanley from $39.00 to $43.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently weighed in on ONON. Truist Financial lowered their target price on ON from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. BTIG Research restated a “buy” rating and set a $60.00 price target on shares of ON in a research note on Tuesday, November 3rd. Evercore set a $40.00 price target on ON in a report on Wednesday, August 12th. Bank of America lowered their price objective on shares of ON from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, September 17th. Finally, Robert W. Baird dropped their price objective on shares of ON from $70.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given 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 a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

ON Price Performance

ONON stock opened at $33.67 on Wednesday. The business has a 50 day moving average price of $32.15 and a 200 day moving average price of $36.23. The stock has a market cap of $21.49 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 0.64 and a beta of 2.05. ON has a fifty-two week low of $26.36 and a fifty-two week high of $51.08. The company has a quick ratio of 2.25, a current ratio of 3.11 and a debt-to-equity ratio of 0.28.

ON (NYSE:ONON) last posted its earnings results on Tuesday, November 10th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.18. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. ON had a return on equity of 22.45% and a net margin of 12.41%. The business’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Equities research analysts anticipate that ON will post 1.50 earnings per share for the current fiscal year.

Institutional Trading of ON

A number of institutional investors and hedge funds have recently bought and sold shares of ONON. Wellington Management Group LLP lifted its holdings in shares of ON by 2.3% during the 2nd quarter. Wellington Management Group LLP now owns 2,751,615 shares of the company’s stock valued at $97,462,000 after acquiring an additional 62,404 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in ON by 116.8% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,741,829 shares of the company’s stock valued at $51,571,000 after purchasing an additional 938,285 shares in the last quarter. Bessemer Group Inc. increased its holdings in ON by 5.7% in the 1st quarter. Bessemer Group Inc. now owns 1,194,774 shares of the company’s stock valued at $40,647,000 after purchasing an additional 63,932 shares in the last quarter. Voya Investment Management LLC increased its holdings in ON by 220.6% in the 3rd quarter. Voya Investment Management LLC now owns 1,002,302 shares of the company’s stock valued at $29,678,000 after purchasing an additional 689,634 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. raised its position in ON by 159.9% in the third quarter. Eurizon Capital SGR S.p.A. now owns 931,031 shares of the company’s stock valued at $27,568,000 after purchasing an additional 572,854 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Company Profile

On Holding AG, which trades on the New York Stock Exchange under the symbol ONON, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. Its products serve runners and other athletes, as well as consumers seeking athletic-inspired everyday wear. The company is known for its running shoes, which feature its CloudTec cushioning technology. On also offers apparel and equipment for activities including running, training and outdoor sports, selling through wholesale partners and its own retail and online channels.