ON (NYSE:ONON) Price Target Raised to $60.00 at KeyCorp

ON (NYSE:ONON) had its target price upped by KeyCorp from $47.00 to $60.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. HSBC began coverage on shares of ON in a report on Thursday, September 5th. They issued a hold rating and a $52.00 price objective for the company. Evercore ISI raised ON to an overweight rating and lifted their target price for the stock from $43.00 to $47.00 in a report on Monday, August 12th. Telsey Advisory Group reissued an outperform rating and issued a $47.00 price target on shares of ON in a research note on Tuesday, August 13th. Stifel Nicolaus lifted their price objective on ON from $45.00 to $59.00 and gave the stock a buy rating in a research note on Wednesday, September 18th. Finally, TD Cowen increased their target price on shares of ON from $48.00 to $50.00 and gave the company a buy rating in a research report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, ON currently has an average rating of Moderate Buy and a consensus target price of $47.95.

ON Stock Up 2.7 %

NYSE:ONON opened at $51.55 on Thursday. The stock’s 50-day simple moving average is $43.98 and its 200 day simple moving average is $39.04. ON has a twelve month low of $23.41 and a twelve month high of $52.16. The firm has a market capitalization of $32.46 billion, a PE ratio of 117.16, a price-to-earnings-growth ratio of 1.40 and a beta of 2.24.

ON (NYSE:ONON) last issued its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The company had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. On average, analysts anticipate that ON will post 0.82 EPS for the current fiscal year.

Institutional Trading of ON

Several hedge funds have recently bought and sold shares of ONON. Sanctuary Advisors LLC bought a new position in shares of ON in the second quarter valued at $1,108,000. Coronation Fund Managers Ltd. lifted its position in ON by 248.6% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company’s stock valued at $6,010,000 after acquiring an additional 110,467 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new position in ON during the 2nd quarter valued at about $230,000. Truist Financial Corp bought a new stake in ON during the 2nd quarter worth approximately $463,000. Finally, Quarry LP purchased a new stake in shares of ON in the second quarter worth approximately $32,000. 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.