ON (NYSE:ONON) Given New $63.00 Price Target at Robert W. Baird

ON (NYSE:ONON - Free Report) had its target price increased by Robert W. Baird from $55.00 to $63.00 in a report released on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other research analysts also recently commented on the company. TD Cowen lifted their price target on ON from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Bank of America upgraded shares of ON from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $21.00 to $55.00 in a research report on Monday, September 23rd. Evercore ISI raised ON to an "overweight" rating and boosted their target price for the company from $43.00 to $47.00 in a research note on Monday, August 12th. Barclays boosted their price objective on ON from $40.00 to $47.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. Finally, UBS Group boosted their price target on ON from $55.00 to $61.00 and gave the company a "buy" rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.50.

ON Stock Performance

NYSE:ONON traded up $0.09 during trading hours on Wednesday, hitting $52.71. 6,093,386 shares of the company's stock traded hands, compared to its average volume of 4,995,663. ON has a twelve month low of $24.15 and a twelve month high of $56.44. The stock's fifty day moving average price is $49.10 and its two-hundred day moving average price is $42.90. The firm has a market cap of $33.19 billion, a P/E ratio of 126.07 and a beta of 2.25.

ON (NYSE:ONON - Get Free Report) last posted its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). The business had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. ON had a net margin of 5.87% and a return on equity of 11.02%. On average, equities research analysts predict that ON will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ONON. Blair William & Co. IL bought a new position in shares of ON during the 1st quarter worth approximately $502,000. Acadian Asset Management LLC acquired a new stake in ON in the 1st quarter valued at $8,094,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of ON by 100.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company's stock worth $49,716,000 after acquiring an additional 642,894 shares during the last quarter. Forte Capital LLC ADV purchased a new position in shares of ON in the 3rd quarter worth about $742,000. Finally, Coronation Fund Managers Ltd. boosted its holdings in shares of ON by 248.6% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company's stock worth $6,010,000 after purchasing an additional 110,467 shares in the last quarter. 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.