ON (NYSE:ONON) Stock Price Expected to Rise, Robert W. Baird Analyst Says

ON (NYSE:ONON) had its price target upped by equities researchers at Robert W. Baird from $55.00 to $63.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 18.09% from the company’s current price.

A number of other research analysts also recently issued reports on ONON. Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and upped their target price for the company from $21.00 to $55.00 in a research report on Monday, September 23rd. Raymond James started coverage on shares of ON in a report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 target price on the stock. Stifel Nicolaus boosted their price target on shares of ON from $45.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. UBS Group raised their price objective on ON from $55.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Barclays increased their target price on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, ON presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

ON Stock Up 1.2 %

Shares of NYSE ONON opened at $53.35 on Wednesday. ON has a 12-month low of $25.78 and a 12-month high of $56.44. The firm’s 50-day simple moving average is $49.24 and its 200 day simple moving average is $42.97. The company has a market cap of $33.59 billion, a price-to-earnings ratio of 124.07 and a beta of 2.25.

ON (NYSE:ONON) last announced its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a return on equity of 11.02% and a net margin of 5.87%. The company had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. On average, equities analysts expect that ON will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ONON. 1832 Asset Management L.P. grew its position in ON by 66,838.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after acquiring an additional 2,406,200 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of ON during the first quarter worth about $65,898,000. Acadian Asset Management LLC increased its stake in shares of ON by 574.3% in the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock valued at $59,878,000 after buying an additional 1,315,006 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in ON in the 2nd quarter valued at approximately $43,456,000. Finally, Renaissance Technologies LLC acquired a new stake in ON during the 2nd quarter worth approximately $27,975,000. 33.11% of the stock is currently owned by institutional investors and hedge funds.

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.