ON (NYSE:ONON) Price Target Increased to $35.00 by Analysts at Morgan Stanley

ON (NYSE:ONON) had its price target increased by Morgan Stanley from $32.00 to $35.00 in a report published on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on ONON. TD Cowen increased their price objective on ON from $36.00 to $38.00 and gave the company a buy rating in a report on Thursday, May 2nd. Truist Financial increased their price target on ON from $29.00 to $30.00 and gave the stock a hold rating in a report on Wednesday, March 13th. Evercore ISI decreased their price target on ON from $40.00 to $37.00 and set an outperform rating for the company in a report on Wednesday, March 13th. Telsey Advisory Group reaffirmed an outperform rating and set a $37.00 price target on shares of ON in a report on Wednesday, April 24th. Finally, William Blair assumed coverage on ON in a report on Tuesday, April 16th. They set an outperform rating for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $37.53.

ON Trading Up 1.0 %

ONON stock opened at $34.39 on Monday. The company has a market capitalization of $21.65 billion, a P/E ratio of 126.11, a PEG ratio of 1.16 and a beta of 2.17. ON has a twelve month low of $23.41 and a twelve month high of $37.08. The business has a 50 day simple moving average of $33.26 and a 200-day simple moving average of $29.99.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.18). The firm had revenue of $504.69 million during the quarter, compared to analyst estimates of $515.30 million. ON had a net margin of 4.04% and a return on equity of 6.85%. Research analysts predict that ON will post 0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Lisanti Capital Growth LLC increased its position in shares of ON by 52.2% in the first quarter. Lisanti Capital Growth LLC now owns 40,350 shares of the company’s stock valued at $1,428,000 after buying an additional 13,835 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of ON in the first quarter valued at $208,000. Obermeyer Wood Investment Counsel Lllp purchased a new position in shares of ON in the first quarter valued at $230,000. SG Americas Securities LLC increased its position in shares of ON by 486.2% in the first quarter. SG Americas Securities LLC now owns 169,806 shares of the company’s stock valued at $6,008,000 after buying an additional 140,838 shares in the last quarter. Finally, Vista Capital Partners Inc. increased its position in shares of ON by 4.3% in the first quarter. Vista Capital Partners Inc. now owns 18,000 shares of the company’s stock valued at $637,000 after buying an additional 750 shares in the last quarter. 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.