ON (NYSE:ONON) Given New $60.00 Price Target at KeyCorp

ON (NYSE:ONON) had its price objective upped by KeyCorp from $47.00 to $60.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently issued reports on ONON. JPMorgan Chase & Co. boosted their price objective on shares of ON from $40.00 to $47.00 and gave the company an overweight rating in a report on Monday, June 17th. Telsey Advisory Group restated an outperform rating and issued a $47.00 price objective on shares of ON in a research report on Tuesday, August 13th. Raymond James started coverage on ON in a research note on Wednesday, July 31st. They set an outperform rating and a $46.00 price objective on the stock. Morgan Stanley boosted their target price on ON from $44.00 to $46.00 and gave the company an overweight rating in a research note on Wednesday, August 14th. Finally, Barclays raised their price target on ON from $40.00 to $47.00 and gave the stock an overweight rating in a research report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, ON has a consensus rating of Moderate Buy and a consensus target price of $47.95.

ON Stock Performance

ONON opened at $51.13 on Thursday. The company has a fifty day moving average price of $44.20 and a two-hundred day moving average price of $39.27. The firm has a market capitalization of $32.19 billion, a PE ratio of 116.20, a P/E/G ratio of 1.25 and a beta of 2.24. ON has a 52 week low of $23.41 and a 52 week high of $52.16.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The company had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. Equities analysts forecast that ON will post 0.82 EPS for the current year.

Hedge Funds Weigh In On ON

Several hedge funds have recently modified their holdings of ONON. William Blair Investment Management LLC bought a new stake in ON during the first quarter worth about $121,712,000. 1832 Asset Management L.P. increased its position in shares of ON by 36.2% during the 4th quarter. 1832 Asset Management L.P. now owns 3,160,000 shares of the company’s stock worth $85,225,000 after purchasing an additional 840,600 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of ON by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock worth $98,636,000 after purchasing an additional 14,674 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of ON by 30.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,224,894 shares of the company’s stock valued at $78,717,000 after buying an additional 516,478 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in shares of ON in the first quarter valued at $65,898,000. Institutional investors own 33.11% of the company’s stock.

ON Company Profile

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.