ON (NYSE:ONON) Earns Outperform Rating from Analysts at Raymond James

Raymond James started coverage on shares of ON (NYSE:ONON) in a research report sent to investors on Wednesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $46.00 price target on the stock.

ONON has been the subject of several other reports. Barclays raised their target price on shares of ON from $38.00 to $40.00 and gave the company an overweight rating in a report on Wednesday, May 15th. Telsey Advisory Group lifted their price objective on ON from $40.00 to $47.00 and gave the stock an outperform rating in a research report on Friday, June 7th. The Goldman Sachs Group increased their target price on ON from $41.00 to $47.00 and gave the company a buy rating in a report on Wednesday, July 3rd. Morgan Stanley boosted their price target on ON from $40.00 to $44.00 and gave the stock an overweight rating in a report on Tuesday, July 23rd. Finally, KeyCorp increased their price objective on ON from $40.00 to $47.00 and gave the company an overweight rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $43.22.

ON Price Performance

ONON opened at $38.67 on Wednesday. ON has a 1-year low of $23.41 and a 1-year high of $44.30. The stock has a market cap of $24.35 billion, a P/E ratio of 87.89, a P/E/G ratio of 1.18 and a beta of 2.22. The stock’s 50 day simple moving average is $40.03 and its 200 day simple moving average is $34.96.

ON (NYSE:ONON) last posted its earnings results on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.20. ON had a return on equity of 11.13% and a net margin of 6.46%. The company had revenue of $581.41 million for the quarter, compared to the consensus estimate of $555.52 million. Research analysts expect that ON will post 0.78 EPS for the current fiscal year.

Institutional Trading of ON

A number of institutional investors and hedge funds have recently bought and sold shares of ONON. Orion Capital Management LLC grew its stake in ON by 1,100.0% during the fourth quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after buying an additional 1,100 shares during the period. VisionPoint Advisory Group LLC purchased a new stake in ON during the 4th quarter worth $32,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in ON in the 4th quarter valued at $33,000. Spire Wealth Management raised its position in ON by 66.2% in the fourth quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock valued at $45,000 after purchasing an additional 643 shares during the period. Finally, Rakuten Securities Inc. acquired a new position in shares of ON during the fourth quarter worth about $47,000. Institutional investors and hedge funds 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.