ON (NYSE:ONON) Price Target Raised to $58.00 at TD Cowen

ON (NYSE:ONON) had its price objective hoisted by TD Cowen from $50.00 to $58.00 in a report released on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

ONON has been the subject of a number of other research reports. Evercore ISI raised ON to an overweight rating and raised their price objective for the company from $43.00 to $47.00 in a research report on Monday, August 12th. Piper Sandler restated an overweight rating and set a $52.00 price target on shares of ON in a report on Friday, August 23rd. HSBC started coverage on shares of ON in a research note on Thursday, September 5th. They issued a hold rating and a $52.00 price target on the stock. Barclays raised their price objective on shares of ON from $40.00 to $47.00 and gave the company an overweight rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of ON from $40.00 to $47.00 and gave the stock an overweight rating in a research note on Monday, June 17th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $48.90.

ON Trading Up 0.9 %

Shares of ONON stock opened at $49.67 on Monday. The company’s fifty day moving average price is $44.78 and its 200-day moving average price is $39.57. The stock has a market cap of $31.27 billion, a PE ratio of 112.89, a price-to-earnings-growth ratio of 1.26 and a beta of 2.24. ON has a 12 month low of $23.41 and a 12 month high of $52.16.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The business had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. On average, sell-side analysts forecast that ON will post 0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. William Blair Investment Management LLC bought a new position in shares of ON in the 1st quarter worth approximately $121,712,000. 1832 Asset Management L.P. raised its position in ON by 36.2% in the fourth quarter. 1832 Asset Management L.P. now owns 3,160,000 shares of the company’s stock worth $85,225,000 after acquiring an additional 840,600 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of ON by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock worth $98,636,000 after acquiring an additional 14,674 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of ON by 30.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,224,894 shares of the company’s stock valued at $78,717,000 after acquiring an additional 516,478 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of ON in the 1st quarter worth $65,898,000. 33.11% of the stock is owned by hedge funds and other institutional investors.

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.