ON (NYSE:ONON) PT Raised to $45.00 at Stifel Nicolaus

ON (NYSE:ONON) had its target price raised by equities research analysts at Stifel Nicolaus from $41.00 to $45.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 9.04% from the stock’s previous close.

A number of other brokerages have also commented on ONON. UBS Group increased their price objective on ON from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $47.00 price objective on shares of ON in a report on Tuesday, August 6th. Barclays increased their target price on ON from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. William Blair initiated coverage on ON in a research report on Tuesday, April 16th. They issued an “outperform” rating on the stock. Finally, Evercore ISI increased their price objective on ON from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.67.

ON Stock Performance

Shares of NYSE ONON opened at $41.27 on Monday. The stock has a market cap of $25.99 billion, a price-to-earnings ratio of 93.80, a PEG ratio of 1.18 and a beta of 2.22. The business has a 50 day simple moving average of $39.64 and a 200 day simple moving average of $35.64. ON has a 52 week low of $23.41 and a 52 week high of $44.30.

ON (NYSE:ONON) last posted its earnings results on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.12 by $0.20. The company had revenue of $581.41 million during the quarter, compared to the consensus estimate of $555.52 million. ON had a net margin of 6.46% and a return on equity of 11.13%. On average, analysts predict that ON will post 0.78 EPS for the current year.

Hedge Funds Weigh In On ON

Several institutional investors have recently bought and sold shares of the business. William Blair Investment Management LLC acquired a new stake in ON in the 1st quarter valued at about $121,712,000. 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 worth $93,500,000 after buying an additional 2,406,200 shares in the last quarter. Norges Bank bought a new position in ON in the 4th quarter valued at $57,916,000. Westfield Capital Management Co. LP acquired a new stake in ON in the first quarter worth about $65,898,000. Finally, Acadian Asset Management LLC raised its holdings in ON by 574.3% during the 2nd 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. Institutional investors 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.