ON (NYSE:ONON) Given New $38.00 Price Target at TD Cowen

ON (NYSE:ONON) had its price target upped by analysts at TD Cowen from $36.00 to $38.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 17.36% from the company’s current price.

ONON has been the subject of several other reports. Barclays assumed coverage on shares of ON in a research report on Monday, April 1st. They issued an “overweight” rating and a $38.00 target price for the company. Piper Sandler boosted their target price on shares of ON from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Redburn Atlantic restated a “neutral” rating and issued a $34.00 target price on shares of ON in a research report on Thursday, March 7th. Morgan Stanley restated an “overweight” rating and issued a $32.00 target price on shares of ON in a research report on Monday, April 22nd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $37.00 price target on shares of ON in a report on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, ON currently has an average rating of “Moderate Buy” and a consensus price target of $37.33.

ON Stock Up 3.5 %

Shares of NYSE ONON traded up $1.09 during mid-day trading on Thursday, reaching $32.38. 1,307,990 shares of the company were exchanged, compared to its average volume of 5,045,542. The stock has a market capitalization of $20.39 billion, a P/E ratio of 120.19, a P/E/G ratio of 1.11 and a beta of 2.17. ON has a twelve month low of $23.41 and a twelve month high of $37.08. The company’s 50-day simple moving average is $33.20 and its 200-day simple moving average is $29.79.

ON (NYSE:ONON) last announced its earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). ON had a return on equity of 6.85% and a net margin of 4.04%. The firm had revenue of $504.69 million for the quarter, compared to the consensus estimate of $515.30 million. As a group, equities research analysts expect that ON will post 0.65 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC grew its holdings in shares of ON by 1,011.8% in the first quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock worth $3,686,000 after purchasing an additional 94,814 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in ON in the 1st quarter worth about $958,000. Private Advisor Group LLC bought a new stake in shares of ON during the 1st quarter valued at about $521,000. J.W. Cole Advisors Inc. grew its stake in shares of ON by 7.5% during the 1st quarter. J.W. Cole Advisors Inc. now owns 14,355 shares of the company’s stock valued at $508,000 after purchasing an additional 1,000 shares during the period. Finally, HB Wealth Management LLC purchased a new position in ON in the 1st quarter worth approximately $488,000. 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.