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

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

Several other analysts also recently issued reports on ONON. Piper Sandler reissued an overweight rating and set a $52.00 target price on shares of ON in a research note on Friday, August 23rd. The Goldman Sachs Group raised their target price on shares of ON from $41.00 to $47.00 and gave the company a buy rating in a research note on Wednesday, July 3rd. Hsbc Global Res upgraded shares of ON to a hold rating in a research note on Thursday, September 5th. Sanford C. Bernstein started coverage on ON in a report on Tuesday, June 11th. They issued an outperform rating and a $50.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on ON from $40.00 to $47.00 and gave the stock an overweight rating in a research report on Monday, June 17th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, ON has an average rating of Moderate Buy and a consensus target price of $48.90.

ON Price Performance

ONON opened at $49.67 on Monday. The company has a 50 day simple moving average of $44.78 and a two-hundred day simple moving average of $39.57. The firm has a market cap of $31.27 billion, a P/E ratio of 112.89, a PEG ratio of 1.26 and a beta of 2.24. ON has a 1-year low of $23.41 and a 1-year high of $52.16.

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

Hedge Funds Weigh In On ON

Several hedge funds have recently added to or reduced their stakes in ONON. Quarry LP bought a new stake in ON in the second quarter worth about $32,000. WD Rutherford LLC bought a new stake in shares of ON during the 1st quarter worth approximately $52,000. Asset Dedication LLC boosted its holdings in ON by 25.8% during the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after acquiring an additional 327 shares during the period. Orion Capital Management LLC grew its position in ON by 106.7% in the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock valued at $88,000 after acquiring an additional 1,280 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in ON by 24.0% in the second quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock worth $98,000 after purchasing an additional 500 shares during the period. 33.11% of the stock is currently 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.