ON (NYSE:ONON) Stock Price Expected to Rise, Robert W. Baird Analyst Says

ON (NYSE:ONON) had its target price raised by Robert W. Baird from $55.00 to $63.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 18.09% from the stock’s previous close.

A number of other equities research analysts have also issued reports on ONON. Hsbc Global Res raised shares of ON to a “hold” rating in a research note on Thursday, September 5th. HSBC assumed coverage on ON in a research note on Thursday, September 5th. They issued a “hold” rating and a $52.00 target price on the stock. Truist Financial upped their target price on ON from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Evercore ISI upgraded ON to an “overweight” rating and lifted their price target for the company from $43.00 to $47.00 in a report on Monday, August 12th. Finally, UBS Group increased their price objective on ON from $55.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.33.

ON Trading Up 1.2 %

Shares of NYSE ONON opened at $53.35 on Wednesday. ON has a one year low of $25.78 and a one year high of $56.44. The business has a 50-day moving average price of $49.24 and a two-hundred day moving average price of $42.97. 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 posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The company had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. ON had a return on equity of 11.02% and a net margin of 5.87%. Research analysts anticipate that ON will post 0.75 EPS for the current year.

Institutional Trading of ON

Several institutional investors have recently modified their holdings of ONON. 1832 Asset Management L.P. boosted its position in shares of ON by 66,838.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock valued at $93,500,000 after acquiring an additional 2,406,200 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in ON during the first quarter valued at approximately $65,898,000. Acadian Asset Management LLC boosted its holdings in ON by 574.3% during the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock valued at $59,878,000 after purchasing an additional 1,315,006 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of ON in the 2nd quarter valued at approximately $43,456,000. Finally, Renaissance Technologies LLC acquired a new position in shares of ON in the 2nd quarter worth approximately $27,975,000. 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.