ON (NYSE:ONON) Price Target Raised to $61.00

ON (NYSE:ONON - Get Free Report) had its price target raised by equities research analysts at UBS Group from $55.00 to $61.00 in a research report issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's price objective would indicate a potential upside of 31.75% from the stock's current price.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus boosted their target price on ON from $45.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Truist Financial boosted their price objective on ON from $51.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. TD Cowen raised their target price on shares of ON from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Barclays upped their price target on shares of ON from $40.00 to $47.00 and gave the company an "overweight" rating in a report on Wednesday, August 14th. Finally, Hsbc Global Res raised shares of ON to a "hold" rating in a report on Thursday, September 5th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $50.05.

ON Stock Down 0.4 %

Shares of ON stock traded down $0.20 during trading on Monday, hitting $46.30. 3,139,665 shares of the stock traded hands, compared to its average volume of 4,957,693. The stock has a market cap of $29.15 billion, a price-to-earnings ratio of 87.36 and a beta of 2.25. ON has a 52 week low of $24.15 and a 52 week high of $52.80. The firm's fifty day moving average is $48.67 and its 200-day moving average is $42.13.

ON (NYSE:ONON - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The business had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. On average, analysts forecast that ON will post 0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Blair William & Co. IL bought a new position in ON during the 1st quarter valued at about $502,000. Janney Montgomery Scott LLC boosted its holdings in ON by 1,011.8% in the first quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company's stock worth $3,686,000 after purchasing an additional 94,814 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in ON during the 1st quarter valued at $8,094,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of ON by 100.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company's stock valued at $49,716,000 after buying an additional 642,894 shares during the period. Finally, Private Advisor Group LLC purchased a new position in shares of ON in the 1st quarter worth $521,000. 33.11% of the stock is owned by institutional investors.

About ON

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.