ON (NYSE:ONON) Price Target Raised to $47.00 at The Goldman Sachs Group

ON (NYSE:ONON) had its price target hoisted by The Goldman Sachs Group from $41.00 to $47.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on ONON. Redburn Atlantic restated a neutral rating and issued a $34.00 target price on shares of ON in a research note on Thursday, March 7th. JPMorgan Chase & Co. raised their target price on ON from $40.00 to $47.00 and gave the company an overweight rating in a research report on Monday, June 17th. TD Cowen lifted their target price on ON from $36.00 to $38.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. Stifel Nicolaus restated a buy rating and set a $41.00 price target on shares of ON in a research report on Thursday, May 16th. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $40.00 price objective on shares of ON in a research report on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, ON has an average rating of Moderate Buy and a consensus price target of $42.53.

ON Trading Down 1.6 %

NYSE ONON opened at $36.64 on Wednesday. The firm has a market capitalization of $23.07 billion, a P/E ratio of 83.27, a PEG ratio of 1.14 and a beta of 2.23. The business has a fifty day simple moving average of $38.13 and a 200 day simple moving average of $33.35. ON has a 12 month low of $23.41 and a 12 month high of $44.30.

ON (NYSE:ONON) last posted its earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The firm had revenue of $581.41 million during the quarter, compared to analyst estimates of $555.52 million. As a group, sell-side analysts predict that ON will post 0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On ON

A number of institutional investors and hedge funds have recently made changes to their positions in the business. William Blair Investment Management LLC bought a new position in shares of ON in the first quarter worth approximately $121,712,000. American Century Companies Inc. increased its holdings in shares of ON by 109.3% in the 3rd quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock worth $182,688,000 after buying an additional 3,428,794 shares during the last quarter. Norges Bank purchased a new stake in shares of ON during the 4th quarter valued at $57,916,000. Westfield Capital Management Co. LP bought a new stake in shares of ON during the 1st quarter worth $65,898,000. Finally, Wellington Management Group LLP purchased a new position in ON in the fourth quarter worth $34,420,000. Hedge funds and other institutional investors 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.