ON (NYSE:ONON) Price Target Raised to $61.00 at Truist Financial

ON (NYSE:ONON) had its price target lifted by Truist Financial from $58.00 to $61.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued reports about the company. The Goldman Sachs Group boosted their price objective on ON from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen boosted their price target on ON from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, September 30th. Robert W. Baird lifted their price objective on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday. BTIG Research raised shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Wednesday. Finally, KeyCorp increased their target price on shares of ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Four investment 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 stock has an average rating of “Moderate Buy” and a consensus price target of $54.33.

ON Trading Down 2.7 %

ONON stock opened at $51.92 on Wednesday. ON has a twelve month low of $25.78 and a twelve month high of $56.44. The company has a market capitalization of $32.69 billion, a P/E ratio of 120.74 and a beta of 2.25. The firm has a 50 day simple moving average of $49.56 and a 200-day simple moving average of $43.17.

ON (NYSE:ONON) last released its earnings results 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). 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. On average, research analysts predict that ON will post 0.75 EPS for the current year.

Institutional Investors Weigh In On ON

Several institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ON in the first quarter valued at approximately $958,000. Oppenheimer & Co. Inc. bought a new position in ON during the 1st quarter valued at $208,000. Sei Investments Co. increased its position in shares of ON by 16.1% during the 1st quarter. Sei Investments Co. now owns 525,478 shares of the company’s stock valued at $18,591,000 after purchasing an additional 72,859 shares during the period. SageView Advisory Group LLC bought a new stake in shares of ON in the 1st quarter worth $656,000. Finally, Blair William & Co. IL acquired a new stake in shares of ON in the first quarter valued at $502,000. 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.