KeyCorp Increases ON (NYSE:ONON) Price Target to $60.00

ON (NYSE:ONON) had its price target lifted by analysts at KeyCorp from $47.00 to $60.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 17.35% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $47.00 price target on shares of ON in a research report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their target price on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Morgan Stanley increased their price target on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Evercore ISI upgraded ON to an “overweight” rating and lifted their price objective for the company from $43.00 to $47.00 in a report on Monday, August 12th. Finally, Sanford C. Bernstein began coverage on ON in a research note on Tuesday, June 11th. They set an “outperform” rating and a $50.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, ON has an average rating of “Moderate Buy” and an average price target of $47.95.

ON Stock Down 0.9 %

Shares of ON stock opened at $51.13 on Thursday. ON has a 12 month low of $23.41 and a 12 month high of $52.16. The business has a fifty day simple moving average of $44.20 and a 200 day simple moving average of $39.16. The stock has a market cap of $32.19 billion, a PE ratio of 116.21, a price-to-earnings-growth ratio of 1.40 and a beta of 2.24.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The company had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. Analysts expect that ON will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On ON

Several large investors have recently made changes to their positions in ONON. Artisan Partners Limited Partnership bought a new stake in ON during the fourth quarter worth $7,398,000. Steward Partners Investment Advisory LLC raised its holdings in shares of ON by 805.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,570 shares of the company’s stock valued at $663,000 after purchasing an additional 21,855 shares during the period. Capstone Investment Advisors LLC lifted its stake in ON by 113.9% in the 4th quarter. Capstone Investment Advisors LLC now owns 24,150 shares of the company’s stock valued at $651,000 after purchasing an additional 12,861 shares during the last quarter. Scotia Capital Inc. bought a new position in ON during the fourth quarter worth about $583,000. Finally, Bridgecreek Investment Management LLC increased its position in ON by 12.2% during the fourth quarter. Bridgecreek Investment Management LLC now owns 40,650 shares of the company’s stock worth $1,096,000 after buying an additional 4,425 shares during the last quarter. Institutional investors and hedge funds 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.