Barclays Lowers ON (NYSE:ONON) Price Target to $60.00

ON (NYSE:ONON) had its target price dropped by stock analysts at Barclays from $69.00 to $60.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 41.56% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of ON from $71.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup downgraded shares of ON from a “buy” rating to a “mixed” rating in a research note on Tuesday, October 28th. Telsey Advisory Group reiterated an “outperform” rating and set a $65.00 price target on shares of ON in a report on Thursday. TD Cowen upped their target price on ON from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Truist Financial decreased their price target on shares of ON from $69.00 to $60.00 and set a “buy” rating for the company in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.14.

ON Trading Up 2.1%

Shares of ONON stock traded up $0.88 during trading hours on Thursday, hitting $42.39. 17,300,681 shares of the company’s stock traded hands, compared to its average volume of 5,798,553. The stock has a market cap of $26.69 billion, a PE ratio of 94.19, a price-to-earnings-growth ratio of 4.37 and a beta of 2.18. The stock’s 50 day simple moving average is $41.77 and its 200 day simple moving average is $48.25. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. ON has a 12 month low of $34.38 and a 12 month high of $64.05.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.35). ON had a net margin of 4.45% and a return on equity of 8.75%. The company had revenue of $944.29 million during the quarter, compared to analyst estimates of $707.74 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. The business’s revenue for the quarter was up 32.0% on a year-over-year basis. On average, sell-side analysts anticipate that ON will post 0.66 EPS for the current year.

Institutional Investors Weigh In On ON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONON. Bison Wealth LLC raised its position in shares of ON by 35.7% in the fourth quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock valued at $509,000 after purchasing an additional 2,442 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of ON by 11.0% in the first quarter. Envestnet Asset Management Inc. now owns 413,491 shares of the company’s stock worth $18,161,000 after buying an additional 40,837 shares in the last quarter. Allworth Financial LP boosted its holdings in ON by 52.8% in the 1st quarter. Allworth Financial LP now owns 2,363 shares of the company’s stock valued at $106,000 after purchasing an additional 817 shares during the period. CWM LLC grew its position in ON by 22.2% during the first quarter. CWM LLC now owns 1,259 shares of the company’s stock worth $55,000 after buying an additional 229 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in shares of ON by 26.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 5,998 shares of the company’s stock valued at $263,000 after acquiring an additional 1,246 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.