ON (NYSE:ONON) Given New $63.00 Price Target at Barclays

ON (NYSE:ONON) had its price target raised by Barclays from $47.00 to $63.00 in a research note published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts also recently commented on the company. Raymond James initiated coverage on ON in a research report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 target price on the stock. Robert W. Baird boosted their target price on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday. HSBC initiated coverage on shares of ON in a research note on Thursday, September 5th. They set a “hold” rating and a $52.00 price target on the stock. Morgan Stanley upped their target price on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, Williams Trading upgraded shares of ON from a “hold” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $60.00 in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $54.33.

ON Stock Up 1.6 %

Shares of NYSE ONON opened at $53.55 on Wednesday. The stock has a market capitalization of $33.72 billion, a price-to-earnings ratio of 122.58 and a beta of 2.25. ON has a 52 week low of $25.78 and a 52 week high of $56.44. The firm has a 50-day simple moving average of $49.24 and a 200-day simple moving average of $42.97.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 11.02% and a net margin of 5.87%. The firm had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. As a group, equities research analysts expect that ON will post 0.75 EPS for the current year.

Institutional Investors Weigh In On ON

Several large investors have recently modified their holdings of the stock. Private Trust Co. NA purchased a new position in ON during the 3rd quarter worth $26,000. Blue Trust Inc. raised its stake in shares of ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after buying an additional 403 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of ON in the 3rd quarter valued at approximately $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares during the period. Finally, Quarry LP acquired a new stake in ON in the second quarter valued at $32,000. Hedge funds and other 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.