ON (NYSE:ONON) Price Target Raised to $62.00 at Williams Trading

ON (NYSE:ONON) had its price objective hoisted by Williams Trading from $60.00 to $62.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Williams Trading’s price objective indicates a potential upside of 22.24% from the stock’s current price.

A number of other brokerages have also recently commented on ONON. TD Cowen raised their target price on ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. The Goldman Sachs Group cut ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a research note on Wednesday, February 12th. Stifel Nicolaus increased their price target on ON from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Morgan Stanley boosted their price objective on ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Barclays lifted their price target on shares of ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.82.

ON Stock Up 6.0 %

Shares of ONON traded up $2.87 during midday trading on Tuesday, reaching $50.72. The company had a trading volume of 11,172,139 shares, compared to its average volume of 4,557,887. The firm has a 50 day simple moving average of $55.40 and a 200-day simple moving average of $52.44. The stock has a market cap of $31.94 billion, a PE ratio of 117.96, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. ON has a 1-year low of $27.37 and a 1-year high of $64.05.

ON (NYSE:ONON) last posted its earnings results on Tuesday, March 4th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. ON had a return on equity of 10.69% and a net margin of 5.87%. As a group, sell-side analysts anticipate that ON will post 0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Park Square Financial Group LLC purchased a new stake in shares of ON during the 4th quarter worth approximately $32,000. Azzad Asset Management Inc. ADV lifted its holdings in shares of ON by 0.4% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 146,393 shares of the company’s stock valued at $8,018,000 after purchasing an additional 608 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in shares of ON in the fourth quarter valued at approximately $44,000. B. Riley Wealth Advisors Inc. increased its stake in shares of ON by 9.8% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 8,105 shares of the company’s stock worth $444,000 after purchasing an additional 726 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in ON during the fourth quarter worth $425,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.