KeyCorp Raises ON (NYSE:ONON) Price Target to $60.00

ON (NYSE:ONON) had its price objective upped by research analysts at KeyCorp from $47.00 to $60.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price would suggest a potential upside of 17.35% from the stock’s current price.

A number of other research analysts have also commented on ONON. Raymond James initiated coverage on ON in a report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 price objective on the stock. Stifel Nicolaus upped their price target on shares of ON from $45.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Sanford C. Bernstein began coverage on shares of ON in a research report on Tuesday, June 11th. They set an “outperform” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Finally, HSBC assumed coverage on shares of ON in a report on Thursday, September 5th. They set a “hold” rating and a $52.00 target price on the stock. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.95.

ON Stock Performance

NYSE ONON opened at $51.13 on Thursday. ON has a 52-week low of $23.41 and a 52-week high of $52.16. The stock has a market cap of $32.19 billion, a PE ratio of 116.21, a P/E/G ratio of 1.40 and a beta of 2.24. The firm has a 50-day moving average of $44.20 and a 200-day moving average of $39.16.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share (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 company had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. As a group, analysts predict that ON will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ONON. Quarry LP acquired a new stake in shares of ON in the 2nd quarter valued at approximately $32,000. WD Rutherford LLC acquired a new stake in ON in the first quarter valued at approximately $52,000. Asset Dedication LLC grew its stake in shares of ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after buying an additional 327 shares during the last quarter. Orion Capital Management LLC increased its holdings in shares of ON by 106.7% during the first quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock worth $88,000 after buying an additional 1,280 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of ON by 24.0% in the 2nd quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 33.11% of the company’s stock.

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.