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

ON (NYSE:ONON - Free Report) had its price target boosted by Morgan Stanley from $32.00 to $35.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also commented on ONON. Piper Sandler increased their price objective on ON from $37.00 to $39.00 and gave the company an overweight rating in a research report on Thursday, March 21st. Barclays initiated coverage on ON in a report on Monday, April 1st. They issued an overweight rating and a $38.00 price target for the company. Redburn Atlantic reiterated a neutral rating and set a $34.00 price objective on shares of ON in a report on Thursday, March 7th. TD Cowen raised their target price on shares of ON from $36.00 to $38.00 and gave the stock a buy rating in a report on Thursday. Finally, William Blair assumed coverage on shares of ON in a report on Tuesday, April 16th. They issued an outperform rating for the company. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $37.53.

ON Price Performance

Shares of ONON stock traded up $0.78 on Monday, hitting $34.05. The company's stock had a trading volume of 2,604,008 shares, compared to its average volume of 5,003,619. The stock has a market capitalization of $21.44 billion, a price-to-earnings ratio of 126.67, a P/E/G ratio of 1.16 and a beta of 2.17. ON has a fifty-two week low of $23.41 and a fifty-two week high of $37.08. The firm's fifty day moving average price is $33.23 and its 200-day moving average price is $29.93.

ON (NYSE:ONON - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $504.69 million during the quarter, compared to analyst estimates of $515.30 million. ON had a return on equity of 6.85% and a net margin of 4.04%. Analysts predict that ON will post 0.65 EPS for the current fiscal year.

Institutional Trading of ON

Hedge funds have recently modified their holdings of the stock. Spire Wealth Management grew its position in ON by 91.0% during the third quarter. Spire Wealth Management now owns 972 shares of the company's stock worth $27,000 after buying an additional 463 shares in the last quarter. VisionPoint Advisory Group LLC bought a new position in ON in the 4th quarter valued at about $32,000. Orion Capital Management LLC raised its position in shares of ON by 1,100.0% in the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company's stock valued at $32,000 after buying an additional 1,100 shares in the last quarter. Global Wealth Management Investment Advisory Inc. bought a new stake in shares of ON during the 4th quarter worth approximately $33,000. Finally, Asset Dedication LLC acquired a new stake in shares of ON during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds 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.