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

ON (NYSE:ONON) had its target price raised by TD Cowen from $36.00 to $38.00 in a research report report published on Thursday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Telsey Advisory Group reissued an outperform rating and set a $37.00 target price on shares of ON in a research report on Wednesday, April 24th. Morgan Stanley restated an overweight rating and set a $32.00 price objective on shares of ON in a research report on Monday, April 22nd. Piper Sandler increased their target price on shares of ON from $37.00 to $39.00 and gave the company an overweight rating in a research report on Thursday, March 21st. Stifel Nicolaus reissued a buy rating and issued a $40.00 price target on shares of ON in a research report on Tuesday, March 5th. Finally, TheStreet lowered ON from a c rating to a d+ rating in a report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $37.33.

ON Stock Up 1.6 %

NYSE ONON opened at $33.27 on Thursday. ON has a 52 week low of $23.41 and a 52 week high of $37.08. The firm has a 50 day moving average of $33.23 and a two-hundred day moving average of $29.89. The stock has a market capitalization of $20.95 billion, a PE ratio of 123.22, a price-to-earnings-growth ratio of 1.16 and a beta of 2.17.

ON (NYSE:ONON) last issued its earnings results on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). ON had a return on equity of 6.85% and a net margin of 4.04%. The firm had revenue of $504.69 million for the quarter, compared to analyst estimates of $515.30 million. On average, equities research analysts expect that ON will post 0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ONON. Jennison Associates LLC lifted its holdings in shares of ON by 7.6% during the third quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock worth $219,416,000 after purchasing an additional 554,513 shares during the period. American Century Companies Inc. lifted its stake in shares of ON by 109.3% in the 3rd quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock worth $182,688,000 after acquiring an additional 3,428,794 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of ON by 36.2% in the fourth quarter. 1832 Asset Management L.P. now owns 3,160,000 shares of the company’s stock valued at $85,225,000 after acquiring an additional 840,600 shares in the last quarter. Bamco Inc. NY boosted its holdings in shares of ON by 243.0% in the third quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock valued at $84,239,000 after acquiring an additional 2,145,318 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of ON by 2.7% during the third quarter. Invesco Ltd. now owns 2,908,297 shares of the company’s stock worth $80,909,000 after acquiring an additional 76,518 shares during the period. 33.11% of the stock is currently 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.