ON (NYSE:ONON) Price Target Increased to $44.00 by Analysts at Morgan Stanley

ON (NYSE:ONON) had its price target boosted by Morgan Stanley from $40.00 to $44.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

ONON has been the subject of several other research reports. Barclays upped their price target on ON from $38.00 to $40.00 and gave the stock an overweight rating in a report on Wednesday, May 15th. William Blair started coverage on shares of ON in a report on Tuesday, April 16th. They issued an outperform rating for the company. Evercore ISI increased their target price on shares of ON from $40.00 to $43.00 and gave the company an outperform rating in a report on Wednesday, May 15th. Stifel Nicolaus reiterated a buy rating and issued a $41.00 target price on shares of ON in a report on Thursday, May 16th. Finally, Needham & Company LLC boosted their target price on ON from $40.00 to $45.00 and gave the stock a buy rating in a research note on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $43.06.

ON Stock Up 5.3 %

ON stock opened at $40.22 on Tuesday. ON has a 12-month low of $23.41 and a 12-month high of $44.30. The firm’s fifty day moving average is $39.85 and its 200 day moving average is $34.48. The company has a market capitalization of $25.32 billion, a PE ratio of 90.75, a PEG ratio of 1.13 and a beta of 2.22.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The firm had revenue of $581.41 million for the quarter, compared to the consensus estimate of $555.52 million. Sell-side analysts expect that ON will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Orion Capital Management LLC grew its stake in shares of ON by 1,100.0% during the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after acquiring an additional 1,100 shares during the period. VisionPoint Advisory Group LLC bought a new position in ON in the 4th quarter worth about $32,000. Global Wealth Management Investment Advisory Inc. bought a new position in ON in the 4th quarter worth about $33,000. Spire Wealth Management boosted its stake in ON by 66.2% in the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock worth $45,000 after purchasing an additional 643 shares during the period. Finally, Rakuten Securities Inc. bought a new position in ON in the 4th quarter worth about $47,000. 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.