TD Cowen Increases ON (NYSE:ONON) Price Target to $38.00

ON (NYSE:ONON - Free Report) had its price objective increased by TD Cowen from $36.00 to $38.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently commented on ONON. William Blair started coverage on ON in a research note on Tuesday, April 16th. They set an outperform rating for the company. Telsey Advisory Group reissued an outperform rating and set a $37.00 target price on shares of ON in a research note on Wednesday, April 24th. Piper Sandler boosted their target price on ON from $37.00 to $39.00 and gave the stock an overweight rating in a research note on Thursday, March 21st. Evercore ISI lowered their price objective on ON from $40.00 to $37.00 and set an outperform rating for the company in a research report on Wednesday, March 13th. Finally, Truist Financial upped their price objective on ON from $29.00 to $30.00 and gave the stock a hold rating in a research report on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $37.33.

ON Stock Performance

Shares of NYSE ONON traded up $1.47 during trading on Thursday, reaching $32.76. The stock had a trading volume of 2,580,142 shares, compared to its average volume of 5,062,574. ON has a fifty-two week low of $23.41 and a fifty-two week high of $37.08. The business's 50-day moving average price is $33.21 and its 200-day moving average price is $29.81. The company has a market cap of $20.63 billion, a P/E ratio of 121.33, a PEG ratio of 1.11 and a beta of 2.17.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC raised its position in ON by 1,011.8% in the first quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company's stock valued at $3,686,000 after purchasing an additional 94,814 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of ON during the first quarter valued at about $958,000. Private Advisor Group LLC acquired a new stake in shares of ON during the first quarter valued at about $521,000. J.W. Cole Advisors Inc. grew its stake in shares of ON by 7.5% during the first quarter. J.W. Cole Advisors Inc. now owns 14,355 shares of the company's stock valued at $508,000 after acquiring an additional 1,000 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new stake in shares of ON during the first quarter valued at about $488,000. 33.11% of the stock is owned by hedge funds and other institutional investors.

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.