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

ON (NYSE:ONON) had its target price hoisted by Morgan Stanley from $32.00 to $35.00 in a research note issued to investors on Monday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Evercore ISI lowered their target price on ON from $40.00 to $37.00 and set an outperform rating on the stock in a report on Wednesday, March 13th. William Blair assumed coverage on ON in a report on Tuesday, April 16th. They set an outperform rating on the stock. Stifel Nicolaus reissued a buy rating and set a $40.00 price objective on shares of ON in a report on Tuesday, March 5th. TheStreet lowered ON from a c rating to a d+ rating in a report on Monday, March 18th. Finally, Barclays assumed coverage on ON in a report on Monday, April 1st. They set an overweight rating and a $38.00 price objective on the stock. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $37.53.

ON Stock Up 1.0 %

ONON opened at $34.39 on Monday. The firm has a market capitalization of $21.65 billion, a P/E ratio of 126.11, a price-to-earnings-growth ratio of 1.16 and a beta of 2.17. The stock’s 50 day moving average price is $33.26 and its two-hundred day moving average price is $29.99. ON has a 12-month low of $23.41 and a 12-month high of $37.08.

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

Hedge Funds Weigh In On ON

Several hedge funds and other institutional investors have recently modified their holdings of ONON. Spire Wealth Management raised its position in ON by 91.0% in the 3rd quarter. Spire Wealth Management now owns 972 shares of the company’s stock valued at $27,000 after purchasing an additional 463 shares during the last quarter. VisionPoint Advisory Group LLC bought a new position in ON in the 4th quarter valued at $32,000. Orion Capital Management LLC raised its position in 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 purchasing an additional 1,100 shares during the last quarter. Global Wealth Management Investment Advisory Inc. bought a new position in ON in the 4th quarter valued at $33,000. Finally, Asset Dedication LLC bought a new position in ON in the 3rd quarter valued at $35,000. Institutional investors 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.