UBS Group Issues Positive Forecast for ON (NYSE:ONON) Stock Price

ON (NYSE:ONON) had its price target lifted by UBS Group from $79.00 to $85.00 in a report released on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

ONON has been the topic of several other research reports. Morgan Stanley increased their price objective on ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday. Jefferies Financial Group reiterated an “underperform” rating and set a $31.00 target price on shares of ON in a research report on Wednesday. Barclays boosted their price target on ON from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Piper Sandler decreased their price objective on shares of ON from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Raymond James Financial reduced their target price on ON from $66.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 21st. One equities 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 company. According to MarketBeat, ON presently has a consensus rating of “Moderate Buy” and an average price target of $61.14.

ON Stock Performance

ON stock traded up $0.11 during mid-day trading on Thursday, hitting $42.51. 13,482,213 shares of the company’s stock traded hands, compared to its average volume of 9,689,145. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. The firm has a 50 day simple moving average of $41.63 and a two-hundred day simple moving average of $48.18. ON has a fifty-two week low of $34.38 and a fifty-two week high of $64.05. The stock has a market cap of $26.77 billion, a price-to-earnings ratio of 55.06, a P/E/G ratio of 5.27 and a beta of 2.18.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.35). ON had a net margin of 7.45% and a return on equity of 15.47%. The company had revenue of $944.29 million during the quarter, compared to the consensus estimate of $707.74 million. During the same period in the previous year, the company earned $0.14 earnings per share. ON’s revenue for the quarter was up 32.0% compared to the same quarter last year. On average, research analysts expect that ON will post 0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On ON

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. boosted its stake in ON by 13.9% during the 1st quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after purchasing an additional 2,416,534 shares during the last quarter. Sands Capital Management LLC grew its holdings in ON by 46.7% during the third quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock worth $286,685,000 after buying an additional 2,155,083 shares in the last quarter. Jennison Associates LLC raised its position in ON by 136.6% in the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock valued at $212,943,000 after buying an additional 2,798,794 shares during the last quarter. Winslow Capital Management LLC bought a new position in ON during the 2nd quarter valued at $248,113,000. Finally, Bamco Inc. NY boosted its holdings in ON by 3.3% during the 2nd quarter. Bamco Inc. NY now owns 4,139,974 shares of the company’s stock worth $215,486,000 after acquiring an additional 132,756 shares during the last quarter. 36.39% of the stock is 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.