ON (NYSE:ONON) Given New $59.00 Price Target at Stifel Nicolaus

ON (NYSE:ONON) had its target price increased by Stifel Nicolaus from $45.00 to $59.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

ONON has been the topic of a number of other reports. Raymond James assumed coverage on shares of ON in a research report on Wednesday, July 31st. They set an outperform rating and a $46.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on ON from $40.00 to $47.00 and gave the company an overweight rating in a research report on Monday, June 17th. Hsbc Global Res raised ON to a hold rating in a research note on Thursday, September 5th. Piper Sandler reaffirmed an overweight rating and set a $52.00 price target on shares of ON in a research note on Friday, August 23rd. Finally, Morgan Stanley lifted their price objective on ON from $44.00 to $46.00 and gave the stock an overweight rating in a research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ON presently has an average rating of Moderate Buy and a consensus price target of $46.89.

ON Price Performance

Shares of ONON opened at $50.96 on Wednesday. The company has a market capitalization of $32.09 billion, a P/E ratio of 115.82, a PEG ratio of 1.37 and a beta of 2.24. ON has a one year low of $23.41 and a one year high of $52.00. The business’s 50 day simple moving average is $42.56 and its 200-day simple moving average is $38.35.

ON (NYSE:ONON) last posted its quarterly earnings data 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 13.02% and a net margin of 7.42%. The business had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. On average, sell-side analysts anticipate that ON will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On ON

A number of hedge funds have recently modified their holdings of ONON. Quarry LP bought a new stake in ON during the 2nd quarter worth approximately $32,000. WD Rutherford LLC bought a new stake in shares of ON during the first quarter worth $52,000. Asset Dedication LLC raised its holdings in shares of ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after acquiring an additional 327 shares during the period. Orion Capital Management LLC lifted its position in ON by 106.7% in the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock valued at $88,000 after acquiring an additional 1,280 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in ON by 24.0% during the 2nd quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock worth $98,000 after purchasing an additional 500 shares in the last quarter. 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.