ON (NYSE:ONON) Coverage Initiated by Analysts at Raymond James

Equities researchers at Raymond James assumed coverage on shares of ON (NYSE:ONON) in a note issued to investors on Wednesday, Marketbeat reports. The firm set an “outperform” rating and a $46.00 price target on the stock. Raymond James’ price objective points to a potential upside of 14.29% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. Needham & Company LLC lifted their price target on ON from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Sanford C. Bernstein began coverage on ON in a report on Tuesday, June 11th. They set an “outperform” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. increased their price target on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, June 17th. The Goldman Sachs Group lifted their price target on shares of ON from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Finally, Truist Financial reiterated a “buy” rating and issued a $46.00 price objective on shares of ON in a research report on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.22.

ON Price Performance

NYSE ONON opened at $40.25 on Wednesday. The company has a market capitalization of $25.34 billion, a P/E ratio of 91.48, a PEG ratio of 1.22 and a beta of 2.22. ON has a 12 month low of $23.41 and a 12 month high of $44.30. The company’s 50 day simple moving average is $40.06 and its 200 day simple moving average is $34.89.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, beating 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 business had revenue of $581.41 million during the quarter, compared to the consensus estimate of $555.52 million. On average, analysts anticipate that ON will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On ON

Several institutional investors have recently bought and sold shares of 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 in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in shares of ON in the fourth quarter valued at about $32,000. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of ON during the 4th quarter worth approximately $33,000. Spire Wealth Management raised its stake in shares of ON by 66.2% during 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 in the last quarter. Finally, Rakuten Securities Inc. bought a new position in shares of ON in the fourth quarter valued at $47,000. 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.