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

ON (NYSE:ONON) had its price objective hoisted by TD Cowen from $50.00 to $58.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently weighed in on ONON. Bank of America upgraded ON from an underperform rating to a neutral rating and increased their price target for the stock from $21.00 to $55.00 in a report on Monday, September 23rd. JPMorgan Chase & Co. boosted their price target on shares of ON from $40.00 to $47.00 and gave the company an overweight rating in a research note on Monday, June 17th. HSBC started coverage on shares of ON in a report on Thursday, September 5th. They issued a hold rating and a $52.00 price objective on the stock. Raymond James initiated coverage on shares of ON in a report on Wednesday, July 31st. They issued an outperform rating and a $46.00 target price for the company. Finally, KeyCorp upped their price target on ON from $47.00 to $60.00 and gave the stock an overweight rating in a research note on Thursday, September 26th. 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, ON currently has a consensus rating of Moderate Buy and a consensus target price of $48.35.

ON Trading Down 0.3 %

ON stock opened at $49.20 on Monday. The company has a 50-day moving average price of $44.57 and a 200 day moving average price of $39.50. ON has a 12-month low of $23.41 and a 12-month high of $52.16. The stock has a market cap of $30.98 billion, a P/E ratio of 111.82, a PEG ratio of 1.25 and a beta of 2.24.

ON (NYSE:ONON) last announced 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 return on equity of 13.02% and a net margin of 7.42%. The firm had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. As a group, analysts forecast that ON will post 0.82 EPS for the current year.

Hedge Funds Weigh In On ON

Several large investors have recently bought and sold shares of the business. Quarry LP purchased a new position in shares of ON in the 2nd quarter valued at about $32,000. WD Rutherford LLC acquired a new position in shares of ON in the 1st quarter valued at $52,000. Asset Dedication LLC grew its position in shares of ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after buying an additional 327 shares during the last quarter. Orion Capital Management LLC raised its stake in ON by 106.7% during the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock worth $88,000 after acquiring an additional 1,280 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in ON by 24.0% in the second 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. Hedge funds and other 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.