ON (NYSE:ONON) Price Target Raised to $63.00 at UBS Group

ON (NYSE:ONON) had its target price upped by investment analysts at UBS Group from $61.00 to $63.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 16.21% from the company’s previous close.

A number of other brokerages have also recently issued reports on ONON. Stifel Nicolaus upped their target price on ON from $45.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. HSBC began coverage on shares of ON in a report on Thursday, September 5th. They set a “hold” rating and a $52.00 target price on the stock. Raymond James began coverage on ON in a report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 price objective for the company. Morgan Stanley boosted their price target on ON from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, KeyCorp boosted their price target on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and twenty have issued 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 $53.50.

ON Price Performance

NYSE:ONON traded up $1.59 during trading hours on Wednesday, reaching $54.21. 4,195,918 shares of the company were exchanged, compared to its average volume of 4,987,038. The company has a market capitalization of $34.13 billion, a P/E ratio of 126.07 and a beta of 2.25. The business has a 50 day moving average of $49.10 and a 200 day moving average of $42.90. ON has a 1-year low of $24.15 and a 1-year high of $56.44.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a return on equity of 11.02% and a net margin of 5.87%. The firm had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. As a group, equities research analysts anticipate that ON will post 0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC grew its holdings in shares of ON by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock worth $924,000 after purchasing an additional 300 shares during the period. Capital Advisors Inc. OK grew its holdings in shares of ON by 5.1% during the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock worth $310,000 after purchasing an additional 301 shares during the period. Artemis Investment Management LLP grew its holdings in shares of ON by 1.9% during the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock worth $637,000 after purchasing an additional 302 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of ON by 3.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after purchasing an additional 325 shares during the period. Finally, Asset Dedication LLC grew its holdings in shares of ON by 25.8% during the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after purchasing an additional 327 shares during the period. Institutional investors and hedge funds 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.