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

ON (NYSE:ONON) had its target price lifted by Truist Financial from $58.00 to $61.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also issued reports on ONON. HSBC initiated coverage on ON in a report on Thursday, September 5th. They set a “hold” rating and a $52.00 target price on the stock. Evercore ISI upgraded ON to an “overweight” rating and lifted their target price for the stock from $43.00 to $47.00 in a report on Monday, August 12th. Robert W. Baird upped their target price on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday. TD Cowen raised their price objective on shares of ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, UBS Group upped their price target on ON from $55.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, ON has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

ON Trading Up 0.2 %

Shares of NYSE:ONON opened at $52.71 on Wednesday. The company has a 50 day moving average of $49.24 and a 200-day moving average of $42.97. The firm has a market cap of $33.19 billion, a P/E ratio of 122.58 and a beta of 2.25. ON has a twelve month low of $24.15 and a twelve month high of $56.44.

ON (NYSE:ONON) last issued its quarterly 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 firm had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. Equities research analysts forecast that ON will post 0.75 EPS for the current year.

Institutional Trading of ON

Several institutional investors have recently bought and sold shares of ONON. 1832 Asset Management L.P. lifted its holdings in ON by 66,838.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock valued at $93,500,000 after purchasing an additional 2,406,200 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in ON in the first quarter worth $65,898,000. Acadian Asset Management LLC grew its holdings in shares of ON by 574.3% during the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock worth $59,878,000 after purchasing an additional 1,315,006 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in ON in the 2nd quarter valued at about $43,456,000. Finally, Renaissance Technologies LLC bought a new position in shares of ON in the second quarter worth about $27,975,000. Institutional investors and hedge funds 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.