ON (NYSE:ONON) Price Target Raised to $58.00 at TD Cowen

ON (NYSE:ONON) had its price target hoisted by TD Cowen from $50.00 to $58.00 in a report released on Monday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other research firms have also recently weighed in on ONON. Morgan Stanley raised their price objective on shares of ON from $44.00 to $46.00 and gave the company an overweight rating in a research report on Wednesday, August 14th. Truist Financial raised their price objective on shares of ON from $46.00 to $51.00 and gave the company a buy rating in a research report on Wednesday, August 14th. Barclays raised their price objective on shares of ON from $40.00 to $47.00 and gave the company an overweight rating in a research report on Wednesday, August 14th. Evercore ISI upgraded shares of ON to an overweight rating and raised their price objective for the company from $43.00 to $47.00 in a research report on Monday, August 12th. Finally, Bank of America upgraded shares of ON from an underperform rating to a neutral rating and raised their price objective for the company from $21.00 to $55.00 in a research report on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $48.35.

ON Trading Down 2.0 %

ONON opened at $50.13 on Monday. The company has a 50 day moving average of $44.20 and a 200 day moving average of $39.27. The company has a market cap of $31.56 billion, a PE ratio of 113.93, a price-to-earnings-growth ratio of 1.25 and a beta of 2.24. ON has a 12 month low of $23.41 and a 12 month high of $52.16.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The business had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. Research analysts forecast that ON will post 0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of ON during the second quarter valued at approximately $32,000. WD Rutherford LLC purchased a new position in shares of ON during the first quarter valued at approximately $52,000. Asset Dedication LLC raised its holdings in shares of ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares during the last quarter. Orion Capital Management LLC grew its position in ON by 106.7% during the first quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock valued at $88,000 after buying an additional 1,280 shares during the period. Finally, National Bank of Canada FI grew its position in ON by 24.0% during the second quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after buying an additional 500 shares during the period. 33.11% of the stock is owned by hedge funds and other 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.