ON (NYSE:ONON) PT Raised to $35.00 at Morgan Stanley

ON (NYSE:ONON) had its price target hoisted by equities researchers at Morgan Stanley from $32.00 to $35.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 2.88% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Truist Financial raised their price target on shares of ON from $29.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, March 13th. TD Cowen lifted their target price on shares of ON from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. TheStreet downgraded ON from a “c” rating to a “d+” rating in a report on Monday, March 18th. Stifel Nicolaus restated a “buy” rating and set a $40.00 price objective on shares of ON in a research note on Tuesday, March 5th. Finally, Evercore ISI lowered their target price on ON from $40.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.53.

ON Stock Down 0.1 %

Shares of ONON opened at $34.02 on Monday. The firm has a market cap of $21.42 billion, a PE ratio of 126.00, a price-to-earnings-growth ratio of 1.16 and a beta of 2.17. The company’s fifty day moving average is $33.26 and its two-hundred day moving average is $30.05. ON has a fifty-two week low of $23.41 and a fifty-two week high of $37.08.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share (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 research analysts anticipate that ON will post 0.65 earnings per share for the current year.

Institutional Trading of ON

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Spire Wealth Management increased its holdings in shares of ON by 91.0% in the 3rd quarter. Spire Wealth Management now owns 972 shares of the company’s stock valued at $27,000 after acquiring an additional 463 shares during the last quarter. VisionPoint Advisory Group LLC bought a new stake in ON during the fourth quarter valued at $32,000. Orion Capital Management LLC raised its holdings in shares of ON by 1,100.0% during the fourth quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after purchasing an additional 1,100 shares during the period. Global Wealth Management Investment Advisory Inc. bought a new position in shares of ON in the 4th quarter worth about $33,000. Finally, Asset Dedication LLC acquired a new position in shares of ON in the 3rd quarter valued at about $35,000. 33.11% of the stock is owned by institutional investors.

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.