Barclays Raises ON (NYSE:ONON) Price Target to $40.00

ON (NYSE:ONON) had its price target increased by Barclays from $38.00 to $40.00 in a report published on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages have also recently weighed in on ONON. Needham & Company LLC lifted their price target on ON from $40.00 to $45.00 and gave the company a buy rating in a research report on Wednesday. Telsey Advisory Group lifted their target price on ON from $37.00 to $40.00 and gave the company an outperform rating in a report on Wednesday. Truist Financial increased their price target on shares of ON from $29.00 to $30.00 and gave the stock a hold rating in a report on Wednesday, March 13th. TD Cowen boosted their price objective on shares of ON from $36.00 to $38.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Finally, William Blair began coverage on shares of ON in a research note on Tuesday, April 16th. They issued an outperform rating on the stock. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $39.87.

ON Stock Up 4.0 %

Shares of ONON stock opened at $38.12 on Wednesday. The company has a 50 day moving average of $33.34 and a 200-day moving average of $30.51. ON has a 12-month low of $23.41 and a 12-month high of $38.65. The firm has a market cap of $24.00 billion, a P/E ratio of 86.64, a PEG ratio of 1.34 and a beta of 2.17.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.18). ON had a return on equity of 11.13% and a net margin of 6.46%. The company had revenue of $504.69 million for the quarter, compared to analysts’ expectations of $515.30 million. As a group, equities analysts expect that ON will post 0.65 EPS for the current year.

Institutional Investors Weigh In On ON

A number of institutional investors have recently made changes to their positions in the business. Asset Management One Co. Ltd. boosted its stake in shares of ON by 20.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,145 shares of the company’s stock valued at $60,000 after purchasing an additional 367 shares in the last quarter. Janney Capital Management LLC boosted its stake in shares of ON by 2.7% in the 3rd quarter. Janney Capital Management LLC now owns 14,450 shares of the company’s stock valued at $402,000 after purchasing an additional 384 shares in the last quarter. Pittenger & Anderson Inc. boosted its stake in shares of ON by 34.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 1,550 shares of the company’s stock valued at $43,000 after purchasing an additional 400 shares in the last quarter. Spire Wealth Management boosted its stake in shares of ON by 91.0% in the 3rd quarter. Spire Wealth Management now owns 972 shares of the company’s stock valued at $27,000 after purchasing an additional 463 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of ON by 63.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,521 shares of the company’s stock valued at $42,000 after purchasing an additional 592 shares in the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

About ON

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.