KeyCorp Increases ON (NYSE:ONON) Price Target to $47.00

ON (NYSE:ONON) had its target price lifted by KeyCorp from $40.00 to $47.00 in a report released on Wednesday morning, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

ONON has been the subject of a number of other reports. Telsey Advisory Group raised their price target on ON from $40.00 to $47.00 and gave the stock an outperform rating in a research note on Friday, June 7th. TD Cowen raised their price target on ON from $36.00 to $38.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. Morgan Stanley raised their price target on ON from $40.00 to $44.00 and gave the stock an overweight rating in a research note on Tuesday, July 23rd. Evercore ISI raised their price target on ON from $40.00 to $43.00 and gave the stock an outperform rating in a research note on Wednesday, May 15th. Finally, Needham & Company LLC raised their price target 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, ON currently has a consensus rating of Moderate Buy and an average price target of $43.06.

ON Trading Up 5.3 %

Shares of NYSE ONON opened at $40.22 on Wednesday. ON has a one year low of $23.41 and a one year high of $44.30. The firm has a market capitalization of $25.32 billion, a PE ratio of 91.41, a PEG ratio of 1.12 and a beta of 2.22. The business has a 50-day moving average price of $39.89 and a two-hundred day moving average price of $34.56.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.20. ON had a return on equity of 11.13% and a net margin of 6.46%. The firm had revenue of $581.41 million during the quarter, compared to analyst estimates of $555.52 million. Research analysts anticipate that ON will post 0.78 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Orion Capital Management LLC lifted its holdings in shares of ON by 1,100.0% during the fourth quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after buying an additional 1,100 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new position in shares of ON during the fourth quarter worth approximately $32,000. Global Wealth Management Investment Advisory Inc. bought a new stake in shares of ON during the fourth quarter valued at approximately $33,000. Spire Wealth Management increased its position in shares of ON by 66.2% during the fourth quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock valued at $45,000 after purchasing an additional 643 shares during the period. Finally, Rakuten Securities Inc. bought a new stake in shares of ON during the fourth quarter valued at approximately $47,000. 33.11% of the stock is currently owned by institutional investors and hedge funds.

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.