ON (NYSE:ONON) Price Target Increased to $47.00 by Analysts at The Goldman Sachs Group

ON (NYSE:ONON) had its price objective increased by stock analysts at The Goldman Sachs Group from $41.00 to $47.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 26.21% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Sanford C. Bernstein began coverage on ON in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $50.00 target price for the company. William Blair initiated coverage on shares of ON in a research note on Tuesday, April 16th. They set an “outperform” rating on the stock. Piper Sandler upped their target price on shares of ON from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Telsey Advisory Group lifted their price target on shares of ON from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Finally, Barclays upped their price objective on shares of ON from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.53.

ON Stock Down 2.1 %

Shares of ONON stock opened at $37.24 on Wednesday. ON has a fifty-two week low of $23.41 and a fifty-two week high of $44.30. The firm’s 50 day moving average price is $38.04 and its two-hundred day moving average price is $33.33. The stock has a market cap of $23.45 billion, a price-to-earnings ratio of 84.64, a price-to-earnings-growth ratio of 1.14 and a beta of 2.23.

ON (NYSE:ONON) last issued its earnings results on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The business had revenue of $581.41 million for the quarter, compared to the consensus estimate of $555.52 million. On average, equities analysts forecast that ON will post 0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On ON

Large investors have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. raised its holdings in shares of ON by 20.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,145 shares of the company’s stock worth $60,000 after purchasing an additional 367 shares during the period. Janney Capital Management LLC raised its position in shares of ON by 3.1% during the 4th quarter. Janney Capital Management LLC now owns 14,893 shares of the company’s stock worth $402,000 after buying an additional 443 shares in the last quarter. Avitas Wealth Management LLC lifted its stake in shares of ON by 2.7% in the 4th quarter. Avitas Wealth Management LLC now owns 22,943 shares of the company’s stock worth $619,000 after acquiring an additional 602 shares during the period. Spire Wealth Management boosted its holdings in shares of ON by 66.2% in the fourth quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock valued at $45,000 after acquiring an additional 643 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA increased its stake in shares of ON by 5.5% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 13,392 shares of the company’s stock valued at $361,000 after acquiring an additional 700 shares during the period. 33.11% of the stock is currently owned by institutional investors.

ON Company Profile

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.