ON (NYSE:ONON) Given New $63.00 Price Target at Robert W. Baird

ON (NYSE:ONON) had its target price raised by Robert W. Baird from $55.00 to $63.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also weighed in on ONON. Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $21.00 to $55.00 in a report on Monday, September 23rd. Piper Sandler raised their target price on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Morgan Stanley upped their price target on ON from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. TD Cowen lifted their price objective on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, KeyCorp increased their target price on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

ON Stock Up 1.6 %

ONON stock opened at $53.55 on Wednesday. The company’s 50-day moving average price is $49.24 and its two-hundred day moving average price is $42.97. The firm has a market cap of $33.72 billion, a P/E ratio of 122.58 and a beta of 2.25. ON has a 12 month low of $25.78 and a 12 month high of $56.44.

ON (NYSE:ONON) last posted its 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). ON had a return on equity of 11.02% and a net margin of 5.87%. The company had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. Equities analysts predict that ON will post 0.75 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ONON. Private Trust Co. NA bought a new position in ON during the third quarter worth about $26,000. Blue Trust Inc. raised its position in shares of ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after buying an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of ON during the third quarter worth approximately $29,000. Finally, Quarry LP bought a new stake in shares of ON in the 2nd quarter worth approximately $32,000. 33.11% of the stock is owned by institutional investors.

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.