TD Cowen Boosts ON (NYSE:ONON) Price Target to $60.00

ON (NYSE:ONON) had its target price boosted by research analysts at TD Cowen from $58.00 to $60.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 12.46% from the company’s current price.

Several other research firms have also recently weighed in on ONON. Truist Financial increased their price objective on ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI raised shares of ON to an “overweight” rating and raised their price target for the stock from $43.00 to $47.00 in a research report on Monday, August 12th. KeyCorp lifted their price objective on shares of ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Stifel Nicolaus raised their target price on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Hsbc Global Res upgraded ON to a “hold” rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and nineteen have issued 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 $54.33.

ON Trading Up 1.2 %

ONON stock opened at $53.35 on Wednesday. The business’s 50 day simple moving average is $49.24 and its 200 day simple moving average is $42.97. ON has a 1-year low of $25.78 and a 1-year high of $56.44. The firm has a market capitalization of $33.59 billion, a PE ratio of 124.07 and a beta of 2.25.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 5.87% and a return on equity of 11.02%. As a group, sell-side analysts predict that ON will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ONON. Paloma Partners Management Co bought a new stake in ON during the 3rd quarter valued at $336,000. Wasatch Advisors LP increased its position in shares of ON by 4.3% during the third quarter. Wasatch Advisors LP now owns 419,536 shares of the company’s stock worth $21,040,000 after acquiring an additional 17,362 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of ON in the 3rd quarter worth about $1,120,000. Verition Fund Management LLC raised its holdings in shares of ON by 94.0% in the 3rd quarter. Verition Fund Management LLC now owns 125,878 shares of the company’s stock worth $6,313,000 after acquiring an additional 60,976 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in ON by 5.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 58,339 shares of the company’s stock valued at $2,926,000 after acquiring an additional 2,755 shares in the last quarter. 33.11% of the stock is owned by institutional investors and hedge funds.

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.