ON (NYSE:ONON) Price Target Raised to $63.00 at Barclays

ON (NYSE:ONON - Free Report) had its target price lifted by Barclays from $47.00 to $63.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on the stock. Piper Sandler raised their price objective on shares of ON from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. UBS Group raised their price objective on shares of ON from $55.00 to $61.00 and gave the company a "buy" rating in a research report on Monday, November 4th. BTIG Research upgraded shares of ON from a "neutral" rating to a "buy" rating and set a $64.00 price objective for the company in a research report on Wednesday. Robert W. Baird upped their price objective on shares of ON from $55.00 to $63.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Hsbc Global Res raised shares of ON to a "hold" rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, ON presently has an average rating of "Moderate Buy" and an average price target of $53.50.

ON Trading Up 0.2 %

ONON traded up $0.09 on Wednesday, reaching $52.71. The company had a trading volume of 6,094,071 shares, compared to its average volume of 4,995,705. The company has a fifty day moving average of $49.24 and a 200-day moving average of $42.97. The company has a market capitalization of $33.19 billion, a P/E ratio of 122.58 and a beta of 2.25. ON has a one year low of $24.15 and a one year high of $56.44.

ON (NYSE:ONON - Get Free Report) last announced 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). ON had a net margin of 5.87% and a return on equity of 11.02%. The company had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. Research analysts predict that ON will post 0.75 EPS for the current year.

Hedge Funds Weigh In On ON

A number of hedge funds have recently added to or reduced their stakes in ONON. Private Trust Co. NA acquired a new position in ON in the third quarter worth approximately $26,000. Blue Trust Inc. increased its holdings in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company's stock worth $27,000 after buying an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock worth $28,000 after buying an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in ON in the third quarter worth approximately $29,000. Finally, Quarry LP acquired a new position in ON in the second quarter worth approximately $32,000. Institutional investors and hedge funds own 33.11% of the company's stock.

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.